Ayayai Inc., a greeting card company that follows ASPE, had the following statements prepared as at December 31, 2020:

AYAYAI INC. Comparative Statement of Financial Position December 31
			2020			2019
Cash			$52,805			$25,160
Accounts receivable			58,010			51,080
Inventory			40,030			60,150
Prepaid rent			5,320			4,180
Equipment			156,400			130,200
Accumulated depreciationequipment			(35,320	)		(25,180	)
Goodwill			20,000			52,000
	Total assets		$297,245			$297,590
Accounts payable			$46,400			$40,200
Income tax payable			4,030			6,150
Salaries and wages payable			8,160			4,160
Shortterm loans payable			8,010			10,080
Longterm loans payable			60,000			71,000
Common shares			130,000			130,000
Retained earnings			40,645			36,000
	Total liabilities and shareholders equity		$297,245			297,590

AYAYAI INC. Income Statement Year Ending December 31, 2020
Sales revenue					$340,280
Cost of goods sold					165,000
Gross margin					175,280
Operating expenses					120,000
Operating income					55,280
Interest expense		$12,400
Impairment lossgoodwill		32,000
Gain on disposal of equipment		(2,900	)		41,500
Income before income tax					13,780
Income tax expense					4,135
Net income					$9,645

Additional information:

1.		Dividends on common shares in the amount of $5,000 were declared and paid during 2020. Dividends paid are treated as financing activities.
2.		Depreciation expense is included in operating expenses, as is salaries and wages expense of $73,000.
3.		Equipment with a cost of $30,000 that was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Ayayai Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income /(Loss) Adjustments to reconcile net income/loss to net cash provided by operating activities: Depreciation Expense $ Increase in Accounts Receivable Increase in Inventory Increase in Accounts Payable Decrease in Accounts Receivable A > > > > > > > > > >