The records of Koop Co. provided the following information for the year ended 31 December 20X8: Statement of Comprehensive Income For year ended 31 December 20x8 Sales revenue Cost of goods sold Depreciation expense Insurance expense Interest expense Salaries and wages expense Remaining expenses Loss on sale of equipment Income tax expense Net earnings and comprehensive income $ 418,300 (304,500) (23,400) (2,400) (4,800) (28,800) (31,200) (4,800) (18,200) $ 200 Statement of Financial Position As of 31 December 20x8 Cash $146,400 Accounts receivable 74,400 Inventory 37,200 Prepaid interest 3,100 Buildings and equipment 179,300 Accumulated depreciation (46,500) Land 179,600 Total $573,500 Accounts payable $ 47,000 Wages payable 4,800 Income tax payable 13,200 Notes payable, long-term 134,400 Common shares 343,200 Retained earnings 30,900 Total $573,500 20x7 $ 80, 100 65,300 22,700 5,500 176,700 (45,900) 92,000 $396,400 $ 41,000 9,200 69, 300 231, 200 45,700 $396,400 Additional Information: a. Sold equipment for cash (cost, $34,200; accumulated depreciation, $22,700). b. Purchased land, $45,100 cash. C. Acquired land for $42,500 and issued common shares as payment in full. d. Acquired equipment, cost $36,900; issued a $36,900, three-year, Interest-bearing note payable. Required: Prepare the SCF, using the two-step Indirect method. Analyze every account to ensure all changes are included. Assume unexplained changes are from logical sources. (Deductible amounts and Cash outflows should be Indicated with minus sign.) KOOP COMPANY Statement of Cash Flows For the year ended 31 December 20X8 Operating activities: Adjustments for non-cash items: Changes in current assets and current liabilities: Investing activities: Financing activities: Cash balance beginning of the year Cash balance end of the year