The comparative unclassified statement of financial position for Carla Vista Ltd. follows: Assets Cash CARLA VISTALTD. Statement of Financial Position December 31 Accounts receivable Inventory Estimated inventory returns Long-term investments Equipment Accumulated depreciation Total assets Liabilities and Shareholders' Equity Accounts payable Refund liability Bank loan payable (noncurrent) Common shares 2021 $55,000 85,000 170,000 8,000 74,000 280,000 (73,000 ) $599,000 $28,000 9,000 164,000 199,000 2020 $29,000 78,000 187,500 6,000 135,000 158,000 (33,000) $560,500 $50,000 4,000 197,500 177,000
The comparative unclassified statement of financial position for Carla Vista Ltd. follows: Additional information pertaining to 2021 : 1. Net income was $97,000. 2. Sales were $970,000. 3. Cost of goods sold was $753,000. 1. Operating expenses were $43,000, exclusive of depreciation expense. 5. Depreciation expense was $40,000. 6. Interest expense was $17,000 7. Income tax expense was $26,000. 8. Long-term imvestments were sold at a gain of $6,000. 9. No equipment was sold during the year. 10. $33,500 of the bank loan was repald during the year: 11. Common shares were issued for $22,000. Prepare a statement of cash flows using the indirect method. (Show amounts thot decrease cash flow with either a - sign ess. 45,000, or in porenthesis e.s. (45,000) 
