Uddin Corp.'s statement of financial position at the end of 2016 included the following items:

The following information is available for the 2017 fiscal year:
1. Net income was $391,000.
2. Equipment (cost of $20,000 and accumulated depreciation of $8,000) was sold for $10,000.
3. Depreciation expense was $4,000 on the building and $9,000 on equipment.
4. Patent amortization expense was $3,000.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $13,000.
6. An addition to the building was completed at a cost of $31,000.
7. A fair value-OCI investment in shares was purchased for $20,500 on the last day of the year. This was the first such investment made by Uddin in its history.
8. Bonds payable of $75,000 were issued at par.
9. Cash dividends of $180,000 were declared and paid. Dividends paid are treated as financing activities.
Uddin prepares financial statements in accordance with IFRS.
Instructions
(a) Prepare a statement of financial position (SFP) as at December 31, 2017.
(b) Prepare a statement of cash flows for the year ended December 31, 2017 using the indirect method.

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Current assets Land Building Equipment Accumulated depreciation-building Accumulated depreciation equipment Intangible assets-patents Total $1,105,000 Current liabilities 30,000 Bonds payable 320,000 Retained earnings (11,000) $1,020,000 1,100,000 180,000 174,000 $2,474,000 1,120,000 Common shares (130,000) Total 40,000 $2,474,000