22. Lupin, Inc. began fiscal 2017 with cash and cash equivalents of $1,018,800. The following schedule of cash receipts and payments relates to the company for the year 2017: Cash receipts: From customers From issuance of bonds payable From sale of excavating equipment From sale of marketable securities held as investment $9,612,000 1,116,000 52,800 63,600 Cash payments: For purchase of equipment To employees To suppliers For interest expense To shareholders for dividends For purchase of treasury stock For income taxes $ 964,800 3,384,000 3,756,000 115,200 222,000 744,000 1,251,600 Required: Prepare, in good form, a statement of cash flow using the direct method for fiscal 2017