statement of cash flows 15

Shown below are comparative statements of financial position for Blue Spruce Corporation.

BLUE SPRUCE CORPORATION Statement of Financial Position December 31
Assets	2018		2017
Cash	$68,400		$21,520
Accounts receivable	85,400		76,070
Inventory	174,570		195,620
Land	76,850		100,610
Equipment	256,900		190,500
Accumulated depreciation â€“ equipment	(69,140	)	(36,240	)
	$592,980		$548,080
Liabilities and Shareholdersâ€™ Equity
Accounts payable	$36,360		$45,190
Bonds payable	148,000		201,000
Common shares	210,700		167,800
Retained earnings	197,920		134,090
	$592,980		$548,080

Additional information:

1.		Net income for 2018 was $94,680. There were no gains or losses reported on the income statement.
2.		Cash dividends of $30,850 were declared and paid.
3.		Bonds payable amounting to $53,000 were redeemed for cash $53,000. The bonds were originally issued at face value (no premium or discount).
4.		Common shares were issued for $42,900 cash.
5.		No land was purchased during 2018.
6.		No equipment was disposed of during 2018.