Prepare the statement of cash flows using the indirect method ( year ended December 31, 2018)

The comparative, unclassified statement of financial position for Carla Vista Ltd. shows the following balances at December 31: Carla Vista Ltd. Statement of Financial Position December 31 Assets Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings (69.000) (102,000) Equipment Accumulated depreciation-equipment Total assets Liabilities and Shareholders' Equity Bank overdraft Accounts payable Income tax payable Interest payable Dividends payable Bank loan payable-current portion Bank loan payable-non-current partion 375,000 211,000 Common shares Retained earnings Total liabilities and shareholders'equity 704,000 392,000 2018 2017 $27,000 30,000 41,000 53,000 94,000 107,000 522,000 258,000 30,000 78,000 43,000 3,000) i 8,000 ) $704,000 392,000 $0 $13,000 $41,000 23,000 2,000 6,000 1,000 20,000 3,000 5,000 3,000 28,000 197,000 52,000 88,000 28,000 Additional information regarding 2018: 1. Net income was $61,000. 2. A gain of $ 9.000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. 3. A gain on the disposal of $ 41,000 was recorded when an old building was sold for $58,000 cash. A new building was purchased for $367,000 and depreciation expense on buildings for the year was $ 53,000. 4. Equipment costing $ 60,000 was purchased while a loss of $ 5.000 was recorded on equipment that was sold for 5 000. The equipment that was sold late in the year had accumulated depreciation of 15,000 5. The company took out $212,000 of new bank loans during the year 6. Dividends were declared and paid and no common shares were bought back by the company