Teal MountainInc. follows IFRS and has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative statement of financial position accounts of Teal Mountain Inc., and its statement of income for the year ending December 31, 2017, follow:

December 31 2017 2015 Change Cash 5 41, 000 $ 48, 000 $ 17, 000) Cash Equivalents [ Note 1!` 37, 000 43, 500 1 5, 500') Accounts receivable* 345, 000 28:4, 000 $5, ODD Prepaid insurance 17, 400 34, 400 ( 17, 000') Inventory 714,000 373 , 200 40, 800 Supplies 13,000 17,000 [ 4, 000 ) Long-term investment , at equity ( Note ?} 421, 000 12 , 100 Land ( Note 5] 533 , 000 508, 000 125 , 000 Buildings ( Note 3) 1 , 310, 000 1 , 280, 000 30, 000 Accumulated depreciation - buildings $ 400 , 000) 360 , 000 ) $ 40, 000) Equipment ( Note 4 ) 5.30 , 000 537 , 400 (7 , 40 0 ) Accumulated depreciation - Equipment ` 160 , 000 ) ( 135, 000) (25, 000) Patent 100, 000 100, 000 Accumulated amortization ( 40, 000) (35, 000 ) 1 5, 000') $ 3, 365, 400 $ 3, 204, 400 $ 161, 000 Bank overdrafts ( temporary*!* 585, 500 $ ( 85, 500} Accounts payable 154, 000 158, 000 5,000 Income tax payable 25,000 35,000 ( 2, 000) Accrued liabilities 55, 000 4 2, 000 13, 000 Dividends payable* 17, 000 45, 000 ( 28, 000') Long - term notes payable 420, 000 450, 000 ( 40, 000} Bonds payable* 2.90, 000 295, 000 4, 000 Preferred shares 185 , 000 380, 000 105 , 000 _ common Shares 745, 000 57 1 , 000 74,000 Retained Earnings 453, 400 331 , 200 121 , 50 0ACCRUEd liabilities 5 5, 000 42,000 13, 000 Dividends payable 17, 000 4 5,000 |28,000) Long-term notes payable 4 20, 000 450, 000 1 40, 000') Bonds payable 494, 000 295, 000 4,000 Preferred Shares 485, 000 380, 000 105, 000 Common Shares 745, 000 57 1, 000 74,000 Retained Earnings 453, 40 0 331, 400 121, 500 $ 3, 355, 400 $ 3, 204, 400 $ 161, OOD Income Statement REVENUES SALES REVENUE $ 593, 000 Investment income 20, 000 $ 1, 083, 000 EXPENSES and LOSSES Cost of goods sold 314, 000 Sales commissions EXPENSE 104, 000 Operating EXPENSES ( note 5) 165, OOD Salaries and wages EXPENSE 104, 000 Interest EXPENSE 58, 000 LOSS on Sale Of Equipment ( note 4 } 1 1, 000 INCOME tax EXPENSE 25, 000 $:93, 000 Net INCOME $ 150, 000