Sarasota Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020:

SARASOTA INC. Comparative Statement of Financial Position December 31
			2020			2019
Cash			$46,780			$25,140
Accounts receivable			57,860			51,040
Inventory			40,080			60,160
Prepaid rent			5,260			4,130
Equipment			162,550			130,040
Accumulated depreciationequipment			(35,260	)		(25,130	)
Goodwill			22,000			58,000
	Total assets		$299,270			$303,380
Accounts payable			$46,050			$40,040
Income tax payable			4,080			6,160
Salaries and wages payable			8,140			4,140
Shortterm loans payable			7,860			10,040
Longterm loans payable			62,000			77,000
Common shares			130,000			130,000
Retained earnings			41,140			36,000
	Total liabilities and shareholders equity		$299,270			303,380

SARASOTA INC. Income Statement Year Ending December 31, 2020
Sales revenue					$344,780
Cost of goods sold					165,000
Gross margin					179,780
Operating expenses					120,000
Operating income					59,780
Interest expense		$12,200
Impairment lossgoodwill		36,000
Gain on disposal of equipment		(2,200	)		46,000
Income before income tax					13,780
Income tax expense					4,140
Net income					$9,640

Additional information:

1.		Dividends on common shares in the amount of $4,500 were declared and paid during 2020.
2.		Depreciation expense is included in operating expenses, as is salaries and wages expense of $72,500.
3.		Equipment with a cost of $22,000 that was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -10,000 or in parenthesis e.g. (10,000).)