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