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Exercise 13-8 a The comparative statement of financial position for Carla Vista Retailers Ltd. follows: CARLA VISTA RETAILERS LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $ 22,000 $ 9,000 Accounts receivable 51,000 40,000 Inventory 175,000 148,000 Furniture 167,000 84,000 Accumulated depreciation (41,000) (21,000) Total assets $374,000 $260,000 Liabilities and Shareholders' Equity Accounts payable $ 49,000 $ 34,000 Bank loan payable (noncurrent) 101,000 71,000 Common shares 63,000 58,000 Retained earnings 161,000 97,000 Total liabilities and shareholders' equity $374,000 $260,000 Additional information: 1. Net income was $64,000 in 2018. 2. Depreciation expense was $20,000 in 2018. 3. Payments made to the bank pertaining to the bank loan were $10,000 in 2018. Some new loans were obtained that year. 4. Common shares were issued in 2018 and no shares have been bought back by the company. 5. In 2018, no furniture was sold. (a) Prepare a statement of cash flows using the indirect method for 2018. (Show amounts that decrease cash flow with eithe CARLA VISTA RETAILERS LTD. Statement of Cash Flows-Indirect Method Year Ended December 31, 2018 - Cash flows from operating activities SOURCES Prepare a statement of cash flows using the Indirect method for 2018. (Show amounts that de 3-1 3-2 3-3 a-b CARLA VISTA RETAILERS LTD. Statement of Cash Flows-Indirect Method Year Ended December 31, 2018 Cash flows from operating activities 3-5 3-8 3-9 Net Income 64,000 Adjustments to reconcile net income to Study Increase in accounts receivable Increase in inventory Increase in bank loans Increase in accounts payable Net cash provided by operating activities : $ + + $ : Increase in inventory Increase in bank loans Increase in accounts payable Net cash provided by operating activities LINK TO TEXT LINK TO TEXT LINK TO TEXT