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lounder Inc., a greeting card company, had the following statements prepared as of December 31, 2020.

FLOUNDER INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019
		12/31/20			12/31/19
Cash		$5,900			$7,000
Accounts receivable		62,500			51,200
Short-term debt investments (available-for-sale)		35,300			17,900
Inventory		39,800			60,100
Prepaid rent		5,100			3,900
Equipment		155,200			130,400
Accumulated depreciationequipment		(34,700	)		(25,200	)
Copyrights		45,500			50,400
Total assets		$314,600			$295,700
Accounts payable		$46,100			$39,900
Income taxes payable		4,100			6,000
Salaries and wages payable		8,000			4,000
Short-term loans payable		8,000			10,100
Long-term loans payable		60,400			69,100
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		58,000			36,600
Total liabilities & stockholders equity		$314,600			$295,700

FLOUNDER INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020
Sales revenue				$340,650
Cost of goods sold				175,900
Gross profit				164,750
Operating expenses				121,000
Operating income				43,750
Interest expense		$11,500
Gain on sale of equipment		2,000		9,500
Income before tax				34,250
Income tax expense				6,850
Net income				$27,400

Additional information:

1.		Dividends in the amount of $6,000 were declared and paid during 2020.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $20,200 and was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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