Condensed financial data of Cheng Inc. follow.

CHENG INC. Comparative Balance Sheets December 31
Assets		2020			2019
Cash		$100,800			$47,100
Accounts receivable		91,400			34,000
Inventory		111,500			102,100
Prepaid expenses		29,700			25,700
Investments		140,700			114,100
Equipment		269,100			241,200
Accumulated depreciation-equipment		(47,600	)		(51,900	)
Total		$695,600			$512,300
Liabilities and Stockholders Equity
Accounts payable		$111,400			$67,900
Accrued expenses payable		16,000			17,000
Bonds payable		119,700			149,200
Common stock		220,800			175,900
Retained earnings		227,700			102,300
Total		$695,600			$512,300

CHENG INC. Income Statement For the Year Ended December 31, 2020
Sales revenue				$391,000
Less:
Cost of goods sold		$134,600
Operating expenses, excluding depreciation		12,600
Depreciation expense		39,300
Income tax expense		27,100
Interest expense		4,100
Loss on disposal of plant assets		6,600		224,300
Net income				$166,700

Additional information:

1.		New equipment costing $79,300 was purchased for cash during the year.
2.		Old equipment having an original cost of $51,400 was sold for $1,200 cash.
3.		Bonds matured and were paid off at face value for cash.
4.		A cash dividend of $41,300 was declared and paid during the year.

Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Cheng Inc. 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).)

CHENG INC. Statement of Cash Flows

		$

cash payments:

	$

$