Current Assets			2021			2020
	Cash		55,700			20,100
	Accounts receivable		24,350			10,350
	Inventory		31,900			16,900
	Prepaid expenses		15,900			10,900
	Total current assets		127,850			58,250
Property and Equipment
	Property and equipment		160,700			150,700
	Less: Accumulated depreciation		78,900			70,000
	Net property and equipment		81,800			80,700
TOTAL ASSETS			$209,650			$138,950
Current Liabilities
	Accounts payable		12,100			16,000
	Salaries payable		10,900			8,900
	Interest payable		2,350			3,350
	Total current liabilities		25,350			28,250
	Loan payable		100,700			60,700
Total Liabilities			126,050			88,950
Shareholders Equity
	Common shares		9,100			300
	Retained earnings		74,500			49,700
	Total shareholders equity		83,600			50,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			$209,650			$138,950

				2021		2020
Sales revenue				607,700		500,000
Cost of sales				413,000		350,000
Gross margin				194,700		150,000
Expenses
Salary expense				136,000		125,000
Interest expense				3,500		2,400
Other expenses				6,000		3,000
Depreciation expense				14,900		8,000
Total expenses				160,400		138,400
Operating income				34,300		11,600
Gain on disposal of equipment				1,300		-
Income tax expense				6,400		1,972
Net income				$29,200		$9,628

The following is additional information concerning Culvers transactions during the year ended December 31, 2021:

		Equipment costing $40,000 was purchased by paying $34,800 cash and issuing 100 shares.
		Equipment costing $30,000 that was purchased at the beginning of 2020 was sold at the end of 2021 for $25,300. Straight-line depreciation had been used with an expected asset life of 10 years and a residual value of $0.
		The other expenses relate to prepaid items.
		In order to supplement its cash, Culver borrowed an additional $40,000 and issued an additional 100 shares.
		Cash dividends of $4,400 were paid at the end of the fiscal year.
		Cost of sales includes $130,000 of direct labour costs.

Prepare a statement of cash flows for Culver for the year ended December 31, 2021, using the indirect method. Culver follows ASPE. Include any note disclosure on non-cash financing and investing transactions.