The comparative unclassified statement of financial position for Cullumber Ltd. shows the following balances at December 31:

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The comparative, unclassified statement of financial position for Cullumber Ltd. shows the following balances at December 31: Cullumber Ltd. Statement of Financial Position 2018 2017 Assets Cash Accounts receivable Inventory Land Buildings Accumulated depreciation-buildings (62,000) (98,000) Equipment Accumulated depreciation-equipment16,000) (8,000) Total assets Liabilities and Shareholders' Equity Bank overdraft Accounts payable Income tax payable Interest payable Dividends payable Bank loan payable-current portion Bank loan payable-non-current portion 387,000 228,000 Common shares Retained earnings Total liabilities and shareholders' equity $711,000 $406,000 $24,000 29,000 41,000 55,000 103,000 115,000 525,000 260,000 30,000 78,000 41,000 $711,000 $406,000 $0 $13,000 42,000 23,000 2,000 5,000 1,000 16,000 3,000 4,000 3,000 27.000 195,000 50,000 89,000 29,000 Additional information regarding 2018: 1. Net income was $58,000. 2. A gain of $ 8,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. 3. Again on the disposal of $40,000 was recorded when an old building was sold for $ 54,000 cash. A new building was purchased for $365,000 and depreciation expense on buildings for the year was $ 50,000. Equipment costing $60,000 was purchased while a loss of $ 5,000 was recorded on equipment that was sold for $5,000.The equipment that was sold late in the year had accumulated depreciation of $ 13,000. The company took out $ 210,000 of new bank loans during the year. Dividends were declared and paid and no common shares were bought back by the compamy 4. 5. 6. a) Prapare tha statamant of cash flaws using tha indiract mathod. (Show amounts that dacresecash flow with ithara-sis-15,000 or in parnthesises(15,000 CULLUMBER LTD. Statment of Cash Flows-Indirect Method Cash lovws from operaing acmths Adjustments to racondle nat incoma to Net cash provided by operahuelitles l Bank overdraft, January 1 Cash, December 31 Cash flows from financing activities Cash flows from investing activities Cash flows from operating activities Net cash provided by financing O activities Net cash provided by investing activities Net cash provided by operating activities Net cash used by financing activities Net cash used by investing activities Net cash used by operating activities Net decrease in cash Net increase in cash Net income Depreciation expense Gain on disposal of land Loss on disposal of land Gain on disposal of building Loss on disposal of building Gain on disposal of equipment Loss on disposal of equipment O O O O O Increase in accounts receivable Decrease in accounts receivable Increase in inventory Decrease in inventory Increase in accounts payableO Decrease in accounts payable O Increase in interest payable Decrease in interest payable O Increase in income tax payable O Decrease in income tax payable O Purchase of land Purchase of equipment Purchase of building Proceeds from disposal of land Proceeds from disposal of O equipment Proceeds from disposal of building Issue of common shares Additions to bank loan Repayments of bank loan Dividends paid