A comparative statement of financial position for Ayayai Corporation follows:

Ayayai Corporation

Statement of Financial Position

December $31$

Assets

$2023$

$2022$

Cash

$$75,400$

$$33,640$

Accounts receivable

$100,920$

$68,440$

Inventory

$154,280$

$93,960$

FV$-$OCI investments in shares

$73,080$

$97,440$

Land

$75,400$

$119,480$

Equipment

$452,400$

$498,800$

Accumulated depreciation$-$equipment

$(135,720)$

$(99,760)$

Goodwill

$143,840$

$200,680$

Total

$$939,600$

$$1,012,680$

Liabilities and Shareholders' Equity

Accounts payable

$$13,920$

$$59,160$

Dividends payable

$17,400$

$37,120$

Notes payable

$255,200$

$388,600$

Common shares

$307,400$

$145,000$

Retained earnings

$334,080$

$329,440$

Accumulated other comprehensive income

$11,600$

$53,360$

Total

$$939,600$

$$1,012,680$

Additional information:

$1.$ Net income for the fiscal year ended December $31,2023,$ was $$22,040.$

$2.$ In March $2023,$ a plot of land was purchased for future construction of a plant site. In November $2023,$ a different plot of land that originally cost $$99,760$ was sold for proceeds of $$110,200.$

$3.)$ In April $2023,$ notes payable amounting to $$162,400$ were retired through the issuance of common shares. In December $2023,$ notes payable amounting to $$29,000$ were issued for cash.

$4.)$ FV$-$OCI investments were purchased in July $2023$ for a cost of $$17,400.$ By December $31,2023,$ the fair value of Ayayai's portfolio of FV$-$OCI investments decreased to $$73,080.$ No FV$-$OCI investments were sold in the year.

$5.)$ On December $31,2023,$ equipment with an original cost of $$46,400$ and accumulated depreciation to date of $$13,920$ was sold for proceeds of $$24,360.$ No equipment was purchased in the year.

$6.)$ Dividends on common shares of $$37,120$ and $$17,400$ were declared in December $2022$ and December $2023,$ respectively. The $2022$ dividend was paid in January $2023$ and the $2023$ dividend was paid in January $2024.$ Dividends paid are treated as financing activities.

$7.)$ A loss on impairment was recorded in the year to reflect a decrease in the recoverable amount of goodwill. No goodwill was purchased or sold in the year.

Prepare a statement of cash flows using the indirect method for cash flows from operating activities.

During the year, Ayayai retired $$?$ in notes payable by issuing common shares.

Please provide detailed solutions. Thank you so much.