6. Grouper Inc., a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The company is currently preparing its statement of cash flows and follows the policy of classifying interest paid as operating cash flows and dividends paid as financing cash flows. The comparative statement of financial position and income statement for Grouper as of May 31, 2020, are as follows:

GROUPER INC. Statement of Financial Position As at May 31
Current assets			2020		2019
	Cash		$35,120		$20,670
	Accounts receivable		83,590		56,390
	Inventory		188,920		199,580
	Prepaid expenses		9,060		7,810
	Total current assets		316,690		284,450
	Plant assets		603,500		511,500
	Less: Accumulated depreciation		156,670		122,670
	Net plant assets		446,830		388,830
	Total assets		$763,520		$673,280
Current liabilities
	Accounts payable		$120,790		$115,790
	Salaries and wages payable		61,450		72,810
	Interest payable		26,210		23,180
	Total current liabilities		208,450		211,780
	Mortgage payable		84,840		110,000
	Total liabilities		293,290		321,780
Shareholders equity
	Common shares		335,910		280,000
	Retained earnings		134,320		71,500
	Total shareholders equity		470,230		351,500
	Total liabilities and shareholders equity		$763,520		$673,280

GROUPER INC. Income Statement For the Year Ended May 31, 2020
Sales			$	1,339,470
Cost of goods sold				806,000
Gross margin				533,470
Expenses
	Salaries and wages expense			204,000
	Interest expense			65,000
	Other operating expenses			23,300
	Depreciation expense			34,000
Total operating expenses				326,300
Operating income				207,170
	Income tax expense			65,800
Net earnings			$	141,370

The following is additional information about transactions during the year ended May 31, 2020, for Grouper Inc., which follows IFRS.

1.		Plant assets costing $92,000 were purchased by paying $48,000 in cash and issuing 5,000 common shares.
2.		The other expenses relate to prepaid items.
3.		In order to supplement its cash, Grouper issued 4,000 additional common shares.
4.		There were no penalties assessed for the repayment of the mortgage.
5.		Cash dividends of $78,550 were declared and paid at the end of the fiscal year.

Prepare a statement of cash flows for Grouper Inc. for the year ended May 31, 2020, using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Grouper Inc. Statement of Cash Flows (Direct Method) For the Year Ended May 31, 2020 Cash Flows from Operating Activities Cash Received from Customers $ Cash Paid to Suppliers for Goods for Resale $ Cash Paid for Interest Cash Paid to Suppliers for Other Operating Expenses III I Cash Paid to and on Behalf of Employees Cash Paid for Income Taxes Net Cash Provided by Operating Activities Cash Flows from Investing Activities Purchase of Plant Assets Cash Flows from Financing Activities Principal Payment of Mortgage Dividends Paid Proceeds from Issuance of Common Shares Net Cash Used by Operating Activities Net Decrease in Cash Cash, June 1, 2019 Cash, May 31, 2020 $ Schedule of non-cash investing and financing activities Issuance of Common Shares for Plant Assets $