The comparative statement of financial position for Crane Retailers Ltd. follows: CRANERETAILERS LTD. Statement of Financial Position December 31 2021 Assets Cash $ 0 $ 2020 19,000 47,000 171,000 Accounts receivable 75,000 221,000 131,000 163,000 Inventory Furniture Accumulated depreciation Total assets (35,000) $ 392,000 (47,000). $ 353,000 $ 15,000 $ 0 Liabilities and Shareholders' Equity Bank overdraft Accounts payable Bank loan payable (noncurrent) Common shares Retained earnings Total liabilities and shareholders' equity 67,000 93,000 51,000 46,000 105,000 61,000 166,000 141,000 $ 392,000 $ 353,000 Additional information regarding 2021: 1. 2. 3. 4. Net income was $30,000. Depreciation expense was $16,000. During the year, the company did not receive any new bank loans. During the year, the company did not purchase furniture but did sell some furniture for $8,000, which resulted in a gain on disposal of $4,000. No common shares were issued during the year but some were repurchased at the cost at which they were originally issued. During the year, the company paid all dividends declared. 5. 6. (a) Prepare a statement of cash flows using the indirect method for 2021. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) CRANE RETAILERS LTD. Statement of Cash Flows $ Adjustments to reconcile net income to $ $ > enter a total amount for section three $ Taythool and Media