Question 1 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 2018 2017 Cash $ 17,000 $ 37,000 Term deposits (maturing in 60 days) 0 43,000 Accounts receivable 77,000 42,000 Inventory 103,000 67,000 Land 185,000 232,000 Buildings 902,000 525,000 Accumulated depreciation-buildings (131,000) (187,000) Equipment 108,000 74,000 Accumulated depreciation--equipment (48,000) (25,000) Total assets $1,213,000 $808,000 Liabilities and Shareholders' Equity Accounts payable $ 25,000 $ 73,000 Income tax payable 3,000 7,000 Interest payable 21,000 15,000 Bank loan payable-current portion 53,000 43,000 Bank loan payable-non-current portion 901,000 420,000 Common shares 163,000 183,000 Retained earnings 47,000 67,000 Total liabilities and shareholders' equity $1,213,000 $808,000 Additional information regarding 2018: 1. Net Income was $13,000. 2. A loss of $22,000 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 $16,000 was recorded when old building was sold for was sold for $40,000 cash. A new building was purchased for $500,000 and depreciation expense on buildings for the year was $43,000. 4. Equipment costing $77,000 was purchased while a loss of $11,000 was recorded on equipment that originally cost $43,000 and was sold for $22,000. 5. The company received $516,000 from new bank loans during the year. 6. Dividends were dedared and paid during the year. 7. No common shares were issued during the year but some were bought back and retired at the amount they were originally issued at. Prepare the statement of cash flows using the indirect approach. (Show amounts that decrease cash flow with either a-sione.. 15,000 or in parenthesis .g. (15,000).) CARLA VISTA LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to