A comparative statement of financial position for Ayayai Corporation follows AYAYAI CORPORATION Statement of Financial Position December 31 Assets 2020 2019 Cash $48,100 $21,460 Accounts receivable 64,380 43,660 Inventory 98,420 59,940 FV OCI investments in shares 46,620 62,160 Land 48,100 76,220 Equipment 288,600 318,200 Accumulated depreciationequipment (86,580 ) (63,640 ) Goodwill 91,760 128,020 Total $599,400 $646,020 Liabilities and Shareholders Equity Accounts payable $8,880 $37,740 Dividends payable 11,100 23,680 Notes payable 162,800 247,900 Common shares 196,100 92,500 Retained earnings 213,120 210,160 Accumulated other comprehensive income 7,400 34,040 Total $599,400 $646,020 Additional information 1 Net income for the fiscal year ending December 31, 2020, was $14,060 2 In March 2020, a plot of land was purchased for future construction of a plant site In November 2020, a different plot of land with original cost of $63,640 was sold for proceeds of $70,300 3 In April 2020, notes payable amounting to $103,600 were retired through the issuance of common shares In December 2020, notes payable amounting to $18,500 were issued for cash 4 FV OCI investments were purchased in July 2020 for a cost of $11,100 By December 31, 2020, the fair value of Ayayais portfolio of FVOCI investments decreased to $46,620 No FVOCI investments were sold in the year 5 On December 31, 2020, equipment with an original cost of $29,600 and accumulated depreciation to date of $8,880 was sold for proceeds of $15,540 No equipment was purchased in the year 6 Dividends on common shares of $23,680 and $11,100 were declared in December 2019 and December 2020, respectively The 2019 dividend was paid in January 2020 and the 2020 dividend was paid in January 2021 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 (a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities (Show amounts that decrease cash flow with either a sign e g 15,000 or in parenthesis e g (15,000) )

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A comparative statement of financial position for Ayayai Corporation follows: AYAYAI CORPORATION Statement of Financial Position December 31 Assets 2020 2019 Cash $48,100 $21,460 Accounts

A comparative statement of financial position for Ayayai Corporation follows:

AYAYAI CORPORATION Statement of Financial Position
	December 31
Assets	2020		2019
Cash	$48,100		$21,460
Accounts receivable	64,380		43,660
Inventory	98,420		59,940
FV-OCI investments in shares	46,620		62,160
Land	48,100		76,220
Equipment	288,600		318,200
Accumulated depreciationequipment	(86,580	)	(63,640	)
Goodwill	91,760		128,020
Total	$599,400		$646,020
Liabilities and Shareholders Equity
Accounts payable	$8,880		$37,740
Dividends payable	11,100		23,680
Notes payable	162,800		247,900
Common shares	196,100		92,500
Retained earnings	213,120		210,160
Accumulated other comprehensive income	7,400		34,040
Total	$599,400		$646,020

Additional information:

1.		Net income for the fiscal year ending December 31, 2020, was $14,060.
2.		In March 2020, a plot of land was purchased for future construction of a plant site. In November 2020, a different plot of land with original cost of $63,640 was sold for proceeds of $70,300.
3.		In April 2020, notes payable amounting to $103,600 were retired through the issuance of common shares. In December 2020, notes payable amounting to $18,500 were issued for cash.
4.		FV-OCI investments were purchased in July 2020 for a cost of $11,100. By December 31, 2020, the fair value of Ayayais portfolio of FVOCI investments decreased to $46,620. No FVOCI investments were sold in the year.
5.		On December 31, 2020, equipment with an original cost of $29,600 and accumulated depreciation to date of $8,880 was sold for proceeds of $15,540. No equipment was purchased in the year.
6.		Dividends on common shares of $23,680 and $11,100 were declared in December 2019 and December 2020, respectively. The 2019 dividend was paid in January 2020 and the 2020 dividend was paid in January 2021. 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.

(a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)