Question 4 The comparative statement of financial position for Oriole Retailers Ltd. follows: ORIOLE RETAILERS LTD. Statement of Financial Position December 31 Assets 2018 Cash $ 21,000 Accounts receivable 52,000 Inventory 167,000 Furniture 163,000 Accumulated depreciation (45,000) Total assets $ 358,000 2017 $ 10,000 43,000 139,000 82,000 (25,000) $249,000 Liabilities and Shareholders' Equity Accounts payable $ 46,000 Bank loan payable (noncurrent) 103,000 Common shares 64,000 Retained earnings 145,000 Total liabilities and shareholders' equity $ 358,000 $ 31,000 77,000 59,000 82,000 $249,000 Additional information: 1. Net income was $63,000 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. ORIOLE RETAILERS LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to