Exercise 13-9 a The comparative statement of financial position for Oriole Retailers Ltd. follows: ORIOLE RETAILERS LTD. Statement of Financial Position December 31 2018 Assets 2017 $ 23,000 Cash C Accounts receivable 81,000 54,000 Inventory 221,000 171,000 Furniture 133,000 165,000 Accumulated depreciation (37,000) (50,000) $398,000 $363,000 Total assets Liabilities and Shareholders' Equity Bank overdraft 7,000 0 Accounts payable 65,000 45,000 Bank loan payable (noncurrent) 108,000 93,000 Common shares 54,000 64,000 Retained earnings 179,000 146,000 Total liabilities and shareholders' equity $398,000 $363,000 Additional information 1. Net income was $38,000 in 2018 2. Depreciation expense was $15,000 in 2018. 3. In 2018, no new bank loans were received 4. In 2018, no furniture was purchased, but some furniture was sold for $8,000, which resulted in a gain on this disposal of $4,000 5. No common shares were issued during the year but some were reacquired at the cost at which they were originally issued 6. In 2018, dividends were declared and paid (a) 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).) ORIOLE RETAILERS LTD. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to A > > >