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.

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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