QUESTION 1 (35 marks) A comparative balance sheet for Consumer Ltd. is presented as follows: Assets Dec 31/19 Dec 31/18 Liabilities & S/H Equity Dec 31/19 Dec 31/18 Cash $ 4,000 $ 4,900 Accounts payable $ 9,100 $ 5,700 Accounts receivable 11,700 8,100 Accrued expenses 500 800 Inventory 14,500 13,800 Bonds payable (long-term) 17,000 7,700 Equipment 52,500 31,900 Common shares 36.900 25,900 Accum. Depreciation (8,000) (10,000) Retained earnings 11.200 8,600 Total Assets $74.700 $48,700 Total Liabilities & S/H Equity $74.700 $48.700 Income Statement for the year 2019: $133,300 Revenues: Sales Expenses and other: Cost of goods sold Other expenses Depreciation expense Loss sale of old equipment $96,200 19,500 1.800 3,500 121,000 Net Income $12.300 During 2019, the company sold some of their old equipment. $30,000 of new equipment items were acquired by issuing common shares $8,000, and the balance paid with cash. Consumer Ltd. also issued bonds at par and paid dividends during the year. Required: Prepare a Cash Flow Statement for the year 2019 in good format