Statement of financial position balances as at 31 December 20X8 and 20X9 are provided below for Laurel Inc. As at 31 December Assets 20X9 20X8 Cash Short-term investments Accounts receivable Inventories Long-term investments Equipment Accumulated depreciation Patent, net Total assets Liabilities and Shareholders' Equity Accounts payable Short-term bank debt Common shares Retained earnings Total liabilities and shareholders' equity Laurel Inc. additional information: Net earnings for 20X9 were $712,000. $ 250,000 $ 120,000 325,000 530,000 525,000 715,000 635,000 200,000 300,000 1,700,000 1,000,000 (450,000) 85,000 $3,355,000 $ 815,000 340,000 1,180,000 1,020,000 $3,355,000 (450,000) 100,000 $2,230,000 $ 710,000 - 960,000 560,000 $2,230,000 Page 283 Equipment with an original cost of $400,000 and a NBV of $150,000 was sold for $150,000 during the year. Accounts receivable Inventories Long-term investments Equipment Accumulated depreciation Patent, net Total assets Liabilities and Shareholders' Equity Accounts payable Short-term bank debt Common shares Retained earnings Total liabilities and shareholders' equity Laurel Inc. additional information: .Net earnings for 20X9 were $712,000. 530,000 525,000 715,000 635,000 200,000 300,000 1,700,000 1,000,000 (450,000) 85,000 $3,355,000 $ 815,000 340,000 1,180,000 1,020,000 $3,355,000 Equipment with an original cost of $400,000 and a NBV of $150,000 was sold for $150,000 during the year. Long-term investments were sold for $135,000 during the year. Short-term investments acquired are treasury bills with an original term of three months. Required: Prepare an SCF for 20X9 using the indirect method. Note any assumptions made during your SCF preparation. (450,000) 100,000 $2,230,000 $ 710,000 960,000 560,000 $2,230,000 Page 283