Prepare the cash provided by/used in operations only under the Direct reporting format.

Question #1: Statement of Cash Flows (SCF) Harbour Company (HC) had the following financial position and results for 2019, with comparative financial position for 2018. Comparative Statement of Financial Position At December 31 Assets: 2019 2018 Change Cash $140,703 $47,250 $93,453 Accounts 90,800 37,000 53,800 receivable. Inventory, lower of FIFO and NRV. 121,900 102,650 19,250 Investments in land. 84,500 107,000 22,500 Property, Plant and Equipment. 290,000 205,000 85,000 Accumulated depreciation. (49,500) (40,000) 9,500 Deferred Tax Asset. 7,000 7,000 $685,403 $458,900 Liabilities and Equity: nts payable. $51,200 $45,280 $5,920 Accrued liabilities. 10,100 17,830 (7,730) Income taxes payable. 2,000 1,000 1,000 Interest payable. 1,500 3,000 (1,500) Notes payable. 140,000 70,000 70,000 Bonds payable net discount $3,667. 96,333 96,333 Common shares. $250,000 $200,000 50,000 Contributed surplus, stock options. 3,000 3,000 Retained earnings... 131,270 121,790 9,480 $685,403 $458.900 Statement of Income Year ended December 31, 2019 Revenues Sales....... $303,700 Gain on sale of investment in land.. 5,000 Gain on sale of equipment... 3,750 $312,450 Expenses Cost of goods sold. $99,460 Employee compensation... 57,000 Operating expenses, including depreciation... 73,370 Interest expense... 9,140 Income tax expense. 39,000 $277,970 $34,480 Other information: 1. Equipment costing $56,000 & accumulated depreciation of $49,200 was sold