Question #6 (16 marks) BIRCH CORPORATION Comparative Statements of Financial Position December 31 2017 Cash.. $ 43,000 Accounts receivable, net.... 31,000 118,000 Land 120,000 Building 200,000 Accumulated depreciation. (50,000) Equipment... 1,030,000 Accumulated depreciation. (118,000) $1.374.000 Inventory 2016 $ 24,000 38,000 82,000 190,000 200,000 (40,000) 600,000 (94,000 $1.000.000 Accounts payable $ 115,000 $ 100,000 4% Bonds payable 320,000 Common shares.. 750,000 750,000 Retained earnings 189,000 150,000 $1,374,000 $1.000.000 Additional data: 1. Net income for the year was $84,000. 2. Cash dividends were paid. 3. Land was sold for $80,000. 4. Old equipment was sold for $70,000. This equipment had cost $150,000 and had accumulated depreciation of $60,000 to date of sale. New equipment was purchased to replace it. Instructions Prepare a statement of cash flows for calendar 2017, using the indirect method