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

Additional information regarding 2018:

1.Net income was $13,000.2.A loss of $22,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year.3.A gain on the disposal of $19,000 was recorded when old building was sold for was sold for $40,000 cash. A new building was purchased for $500,000 and depreciation expense on buildings for the year was $46,000.4.Equipment costing $75,000 was purchased while a loss of $11,000 was recorded on equipment that originally cost $46,000 and was sold for $22,000.5.The company received $514,000 from new bank loans during the year.

6.Dividends were declared and paid during the year.

7.No common shares were issued during the year but some were bought back and retired at the amount they were originally issued at.

(a)

Prepare the statement of cash flows using the indirect approach.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Ivanhoe Ltd. Statement of Financial Position December 31 Assets 2018 2017 Cash 1; 16,000 $ 38,000 Term deposits (maturing in 60 days) 0 46,000 Accounts receivable 77,000 40,000 Inventory 104,000 68,000 Land 187,000 234,000 Buildings 908,000 529,000 Accumulated depreciationbuildings (134,000) (188,000) Equipment 96,000 67,000 Accumulated depreciationequipment (39,000) (21,000) Total assets $1,215,000 $813,000 Liabilities and Shareholders' Equity Accounts payable :5 27,000 Income tax payable 4,000 Interest payable 22,000 Bank loan payablecurrent portion 50,000 Bank loan payablenon-current portion 902,000 Common shares 157,000 Retained earnings 53,000 Total liabilities and shareholders' equity $1,215,000 Additional information regarding 2018: $ 74,000 6,000 15,000 42,000 421,000 182,000 73,000 $813,000