Shown below are comparative statements of financial position for Concord Corporation. CONCORD CORPORATION Statement of Financial Position December 31 Assets 2018 2017 Cash $68,890 $21,460 Accounts receivable 85,260 77,060 Inventory 167,760 188,820 Land 77,650 99,270 Equipment 256,000 194.300 Accumulated depreciation - equipment (67,530) (34,230) $588,030 $546,680 Liabilities and Shareholders' Equity Accounts payable $36,360 $43,520 Bonds payable 151,000 210,000 Common shares 211,450 168,270 Retained earnings 189,220 124,890 $588,030 $546,680 Additional information: 1. Net income for 2018 was $95,780. There were no gains or losses reported on the income statement. ab diidande ft Aedoaradadid 1. Net income for 2018 was $95,780. There were no gains or losses reported on the income statement. 2. Cash dividends of $31,450 were declared and paid. 3. Bonds payable amounting to $59,000 were redeemed for cash $59,000. The bonds were originally issued at face value (no premium or discount). 4. Common shares were issued for $43,180 cash. 5. No land was purchased during 2018. 6. No equipment was disposed of during 2018. Prepare a statement of cash flows for 2018 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000).) CONCORD CORPORATION Statement of Cash Flows Adjustments to reconcile net income to $ Adjustments to reconcile net income to $ + $ $ A - A 4 $ A A A