The company follows ASPE. Wildhorse Ltd. had the following comparative statement of financial position: Wildhorse Ltd. Comparative Statement of Financial Position As at December 31 Assets 2018 2017 Cash $ 77,080 $ 47,000 Accounts receivable 127,840 95,880 Inventories 75,200 112,800 Prepaid insurance 9,400 7,520 Equipment 289,520 257,560 Accumulated depreciationequipment (65,800 ) (47,000 ) Total assets $ 513,240 $ 473,760 Liabilities and Shareholders Equity Accounts payable $ 80,840 $ 67,680 Salaries & Wages payable 11,280 7,520 Income taxes payable 15,040 16,920 Mortgage payable 103,400 116,560 Common shares 206,800 197,400 Retained earnings 95,880 67,680 Total liabilities and shareholders equity $ 513,240 $ 473,760 Additional information: Net income was $51,324. New equipment was purchased and none was sold. Common shares were issued for cash. Cash dividends were paid to common shareholders. Prepare the statement of cash flows using the indirect format.