A simplified balance sheet for Planet Inc. contain the following amounts at the end of 2019 and 2020.

Planet Inc. Balance Sheet As at May 31
	2020	2019
Assets
Current Assets
Cash	$18,000	$8,600
Accounts Receivable	$13,600	$5,600
Prepaid Expenses	$2,400	$1,800
Merchandise Inventory	$24,600	$15,500
Total Current Assets	$58,600	$31,500
Long-Term Assets
Equipment	$178,000	$166,000
Less: Accumulated Depreciation	$-25,400	$-19,300
Total Long-Term Assets	$152,600	$146,700
Total Assets	$211,200	$178,200
Liabilities
Current Liabilities	$20,800	$20,800
Long-Term Liabilities	$28,000	$40,000
Total Liabilities	$48,800	$60,800
Shareholders' Equity
Contributed Capital
Preferred Shares	$58,000	$58,000
Common Shares	$27,000	$6,000
Total Contributed Capital	$85,000	$64,000
Retained Earnings	$77,400	$53,400
Total Shareholders' Equity	$162,400	$117,400
Total Liabilities and Equity	$211,200	$178,200

Assume current liabilities include only items from operations (e.g., accounts payable, taxes payable). Long-term liabilities include items from financing (e.g. bonds and other long-term liabilities). Note that the company did not sell any equipment and did not borrow any additional long-term liabilities throughout the year.

Prepare the cash flow statement for 2020 using the indirect method. Assume no dividends were declared or paid in 2020.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Planet Inc. Cash Flow Statement For the Year Ended May 31, 2020
Cash Flow from Operations
Net Income	Answer
Adjustments to reconcile Net Income to Cash
Depreciation Expense	Answer
Change in Operating Assets and Liabilities
Increase in Accounts Receivable	Answer
Increase in Prepaid Expenses	Answer
Increase in Merchandise Inventory	Answer
Net Cash Provided (Used) by Operating Activities		Answer
Cash Flow from Investing Activities
Purchase of Equipment	Answer
Net Cash Provided (Used) by Investing Activities		Answer
Cash Flow from Financing Activities
Issuance of Common Shares	Answer
Repayment of Long-Term Liabilities	Answer
Net Cash Provided (Used) by Financing Activities		Answer
Net Increase (Decrease) in Cash		Answer
Cash at the Beginning of the Year		Answer
Cash at the End of the Year		Answer