The business owned by Xavier Long made the following cash transactions during the reporting period. GST of 10% was applicable on all transactions.

1.    Purchased equipment for $22 000 (including GST).

2.    Purchased inventory for $44 000 (including GST).

3.    Sold inventory for $110 000 (including GST).

4.    Purchased office supplies for $8800 (including GST).

5.    Sold an item of plant for $66 000 (including GST).

6.    A net amount of $9000, representing GST payable and receivable, excluding the above transactions, was paid to the Australian Taxation Office.

Required
Prepare a statement of cash flows using the direct method for the business for the period. Treat all GST items as part of operating activities.