SOAL 3 Ochoa Group, had the following condensed statement of financial position at the end of operations for 2018 ( in thousands). Ochoa Group STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2018 Investments 20,000 Share capital-ordinary \ 75,000 Land 40,000 Retained earnings 24,500 Plant assets (net) 67.500 Long-term notes payable 25, 500 Current assets other than cash 29,000 Bonds payable 25,000 Cash 8,500 Current liabilities 15,000 165,000 165,000 During 2019, the following occurred. 1 A tract of land was purchased for 11.000. 2 Bonds payable in the amount of 20,000 were retired at par. 3 An additional $10,000 in ordinary shares were issued at par. 4 Dividends totaling 9, 375 were paid to shareholders. 5 Net income was 30, 250 after deducting depreciation of 13,500. 6 Land was purchased through the issuance of 22, 500 in bonds. 7 Ochoa Group sold part of its investment portfolio for 12, 875. This transaction resulted in a gain of $2,000 for the company. The company classifies them as non-trading equity investments. 8 Both current assets (other than cash) and current liabilities remained at the same amount. Instructions a. Prepare a statement of cash flows for 2019 using the indirect method. b. Prepare the condensed statement of financial position for Ochoa Group as it would appear at December 31, 2019