The comparative statement of financial position for Blossom Retailers Ltd. follows: BLOSSOM RETAILERS LTD. Statement of Financial Position December 31 Assets 2021 Cash $ 19,000 Accounts receivable 50,000 Inventory 171,000 Furniture 166,000 Accumulated depreciation (52,000) Total assets $ 354,000 2020 $ 10,000 41,000 145,000 84,000 (29,000) $ 251,000 Liabilities and Shareholders' Equity Accounts payable Bank loan payable (current portion) Bank loan payable (noncurrent portion) Common shares Retained earnings Total liabilities and shareholders equity $ 49,000 20.000 80.000 57,000 148.000 $ 354.000 $ 39,000 10,000 64.000 52.000 86,000 S 251.000 Additional information regarding 2021 of W Retained earnings Total liabilities and shareholders' equity 57,000 148,000 $ 354,000 52,000 86,000 $ 251,000 Additional information regarding 2021: 1. 2. 3. Net income was $62,000. Depreciation expense was $23,000. Payments made to the bank pertaining to the bank loan were $10,000. The company obtained some new bank loans during the year. Common shares were issued during the year and the company did not buy back any shares. During the year, the company did not sell any furniture. 4. 5. (a) Prepare a statement of cash flows using the indirect method for 2021. (Show amounts that decrease cash flow with either o - signe -15,000 or in parenthesis eg. (15,000).) BLOSSOM RETAILERS LTD. Statement of Cash Flows O DOLL 1650 CASCHETARER Statement of Cash 5