*Exercise 13-8 a The comparative statement of financial position for Wildhorse Retailers Ltd. follows WILDHORSE RETAILERS LTD Statement of Financial Position December 31 2018 2017 Assets Cash Accounts receivable Inventory Furniture Accumulated depreciation Total assets $19,000 8,000 49,000 39,000 176,000 148,000 169,000 85,000 (47,000 (26,000) $366,000 $254,000 Liabilities and Shareholders' Equity Accounts payable Bank loan payable (noncurrent) Common shares Retained earnings Total liabilities and shareholders' equity $366,000 $46,000 35,000 101,000 71,000 63,000 58,000 156,000 90,000 $254,000 Additional information: 1. 2. 3. Net income was $66,000 in 2018 Depreciation expense was $21,000 in 2018 Payments made to the bank pertaining to the bank loan were $10,000 in 2018. Some new loans were obtained that year 4. Common shares were issued in 2018 and no shares have been bought back by the company 5. In 2018, no furniture was sold Prepare a statement of cash flows using the indirect method for 2018. (Show amounts that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis e.g. (15,000)) WILDHORSE RETAILERS LTD Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to