Question 6 Max 7 points Actual The statement of financial position data of Basha Company at the end of 2014 and 2015 follows: 2014 2015 Equipment $ 412,500 $ 495,000 Accumulated Depreciation equipment (44.000) 199,000) Land 220,000 385,000 Inventory 247,500 357,500 Accounts receivable (net) 247,500 307,500 Prepaid expenses 137,500 87,500 Cash 192,500 165.000 Total Assets 1,413,500 1.688,500 Share capital-ordinary, $20 par 874,500 1,039,500 Retained earnings 27,500 44,000 Notes payable-bank, long-term 126,500 0 Bonds payable 165.000 Accounts payable 385,000 440,000 Total Liabilities and SE 1,413,500 1,688,500 Land was acquired for $ 165,000 in exchange for ordinary shares, par was sold for $ 16,500 , book value of the equipment was Depreciation expense for the year was $ 93.500 Net Income for 2015 was $ 66.000 Instructions Prepare Cash Flow Statement using indirect method $ 71,500 $ 165,000 , during the year; all equipment purchased was for cash. Equipment costing $ 33,000 Cash dividends of $ 49,500 were declared and paid during the year