The comparative unclassified statement of financial position for Wildhorse Ltd. follows: WILDHORSE LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $55,000 $20.000 Accounts receivable 88,000 72,000 Inventory Long-term investments 184,000 73,000 285,000 (66,000) Equipment 196,500 125,000 166,000 (32,000) $547,500 Accumulated depreciation Total assets $619,000 Liabilities and Shareholders' Equity Accounts payable $35,000 174,000 Bank loan payable $52,500 178,000 179,000 Common shares 205,000 Retained earnings 205,000 138,000 Total liabilities and shareholders' equity $619,000 $547,500 Total liabilities and shareholders' equity $619,000 $547,500 Additional information: 1. Net income was $108,000. 2. Sales were $974,000. 3. Cost of goods sold was $752,000. 4. Operating expenses were $42,000, exclusive of depreciation expense. 5. Depreciation expense was $34,000. 6. Interest expense was $14,000. 7. Income tax expense was $29,000. 8. Long-term investments were sold at a gain of $5,000. 9. No equipment was sold during the year. 10. $4,000 of the bank loan was repaid during the year. 11. Common shares were issued for $26,000. Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow WILDHORSE LTD. Statement of Cash Flows-Direct Method Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a sign .g. -15,000 or in parenthesis es (15.000 WILDHORSE LTD. Statement of Cash Flows-Direct Method Cash payments