Provided below and on the following page are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left column.

Additional information for Howard Bannister Company is as follows:
(a) All accounts payable relate to inventory purchases.
(b) Equipment with an original historical cost of $1,200 was judged to be impaired during 2011. The fair value of the equipment on the date the impairment was recognized was $210.
(c) Howard Bannister made only two purchases of property, plant, and equipment during the year. One purchase was for $2,300 cash. The other purchase, for $650, was completely financed with a mortgage. The mortgage is shown as part of €œLong-term debt€ on the balance sheet.
(d) No available-for-sale securities were purchased before January 1, 2010. Available-for- sale investment securities sold during 2011 had an original cost of $65.
(e) The accumulated other comprehensive income balance represents an increase, or credit, to equity.
Instructions:
Prepare a complete statement of cash flows for 2011 for Howard
Bannister Company. Use the direct method for reporting cash flows from operatingactivities.

Income Statement (for 2011) Sales Income from investments (accounted for using the equity method) Realized gain on sale of available-for-sale securities Cost of goods sold Impairment loss Selling and administrative expenses Depreciation expense Income tax expense $22535 100 45 $14,800 170 .3,380 1,068 1200 Total expenses and losses Net income 20.618 $ 2062