es/30969/as Question 9 View Policies Current Attempt in Progress The comparative unclassified statement of financial position for Carla Vista Ltd. foll rt CARLA VISTA LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $55,000 $28,000 Accounts receivable 81,000 63,000 Inventory 183,000 203,500 Long-term investments 120,000 80,000 285.000 Equipment 156.000 Accumulated depreciation 161.000 137,000 Total assets $623.000 $533,500 Liabilities and Shareholders' Equity Accounts payable $32.000 $45.000 Bank loan payable 153.000 172.500 Common shares 219.000 176,000 e to search plus.com/courses/38929/assignments/5513807 Liabilities and Shareholders' Equity Accounts payable $32,000 $ 45,000 Bank loan payable 153,000 172,500 Common shares 219,000 176,000 Retained earnings 219,000 140,000 Total liabilities and shareholders' equity $623,000 $533,500 Additional information: 1. Net income was $134,100. 2. Sales were $998,000. 3. Cost of goods sold was $758,000. 4. Operating expenses were $45,000, exclusive of depreciation expense. 5. Depreciation expense was $24,000. 6. Interest expense was $15,000. 7. Income tax expense was $27,000 8. Long-term investments were sold at a gain of $5.100. 9. No equipment was sold during the year. 10. $19,500 of the bank loan was repaid during the year 11. Common shares were issued for $43.000. Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a signes -15,000 or in parenthesis eg. (15,0001) CARLA VISTA LTD. Statement of Cash Flows-Direct Method Cash payments $ Activate Windows Go to Settings to activate Windows O ch ENG 20:51 04-06-2020