The comparative, unclassified statement of financial position for Ivanhoe Ltd. shows the following balances at December...

• Preparation of the statement of cash flows using the indirect approach.

  IVANHOE LTD

  Year Ended 31, 2018

  Cash flows from operating activities	Amount ($)	Amount ($)
  Net Income		13,000
  Adjustments to reconcile net Income to Cash Flows from Operating activities
  Loss on Disposal of land	22,000
  Gain on disposal of Building	(19,000)
  Depreciation Expense	77,000
  Loss on disposal of equipment	11,000
  Decrease in term deposit	46,000
  Increase in account receivables	(37,000)
  Increase in inventory	(36,000)
  Decrease in accounts payable	(47,000)
  Decrease in Income tax payable	(2,000)
  Increase in interest payable	7,000
  Increase in bank loan payable - current portion	8,000	30,000
  Net cash used by operating activities		43,000
  Cash flows from Investing Activities
  Proceeds from disposal of land	25,000
  Purchase of Building	(500,000)
  Purchase of equipment	(75,000)
  Proceeds from disposal of equipment	22,000
  Proceeds from sale of building	40,000
  Net cash used by Investing Activities		(488,000)
  Cash flows from financing activities
  New Bank Loan taken	514,000
  Purchase of Common Shares	(25,000)
  Payment of bank loans	(33,000)
  Dividend paid	(33,000)
  Net cash provided by Financing activities		423,000
  Net Increase/ (decrease) in cash		(22,000)
  Cash and Cash equivalents as on Jan 1, 2018		38,000
  Cash and Cash equivalents as on December 31, 2018		16,000

  Working Notes

  Land A/C

  Particulars	Amount ($)	Particulars	Amount ($)
  To balance b/d	234,000	By Loss on Sale By cash (sale) By balance c/d	22,000 25,000 187,000
  Total	234,000	Total	234,000

  Retained Earning A/C

  Particulars	Amount ($)	Particulars	Amount ($)
  To Dividend paid To balance c/d	33,000 53,000	By balance b/d By Net Income	73,000 13,000
  Total	86,000	Total	86,000