The comparative, unclassified statement of financial position for Oriole Ltd. shows the following balances at December 31: Oriole Ltd. Statement of Financial Position December 31 Assets 2021 2020 Cash $ 37,000 $0 40,000 27,000 Accounts receivable Inventory 28,000 54,000 Land 105,000 115,000 528,000 265,000 (65.000) 199,000) 81,000 44,000 (6,000) (16,000) $725,000 $413,000 $0 $13,000 $ 46,000 $ 24,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Total assets Liabilities and Shareholders' Equity Bank overdraft Accounts payable Income tax payable Interest payable Dividends payable Bank loan payable-current portion Bank loan payablenon-current portion Common shares Retained earnings Total liabilities and shareholders' equity 3,000 2,000 4,000 5.000 3,000 1.000 24,000 21,000 391,000 223,000 199,000 90,000 55,000 34,000 $725,000 $413,000 Additional information regarding 2021: 1. 2. 3. Net income was $58,000 A gain of $8,000 was recorded on the disposal of a small parcel of land. No land was purchased during the year. A gain on the disposal of $40,000 was recorded when an old building was sold for $55,000 cash. A new building was purchased for $363,000 and depreciation expense on buildings for the year was $51,000. Equipment costing $64,000 was purchased while a loss of $9,000 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 $200,000 of new bank loans during the year. Dividends were declared and paid and no common shares were bought back by the company. 4. 5. . . 6. Prepare the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or i parenthesis eg. (15,000)) ORIOLE LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to $ $