The comparative unclassified statement of financial position for Blossom Ltd. follows: BLOSSOM LTD. Statement of Financial Position December 31 Assets 2018 Cash $51,000 Accounts receivable 88,000 Inventory 177,000 Long-term investments 70,000 Equipment 280,000 Accumulated depreciation (66,000) Total assets $600,000 2017 $27,000 60,000 194,500 145,000 154,000 (34,000) $546,500 Liabilities and Shareholders' Equity Accounts payable $37,000 Bank loan payable 125,000 Common shares 219,000 Retained earnings 219,000 Total liabilities and shareholders' equity $600,000 $ 49,500 185,000 175,000 137,000 $546,500 Additional information: 1. Net income was $119,200. 2. Sales were $994,000. 3. Cost of goods sold was $758,000. Operating expenses were $45,000, exclusive of depreciation expense. Depreciation expense was $32,000. Interest expense was $15,000. 7. Income tax expense was $30,000. 8. Long-term investments were sold at a gain of $5,200. 9. No equipment was sold during the year. 10. $60,000 of the bank loan was repaid during the year. 11. Common shares were issued for $44,000. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis e.g. (45,000).) BLOSSOM LTD. Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -45,000, or in parenthesis e.g. (45,000).) BLOSSOM LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to LA A