Cullumber Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020.

CULLUMBER LTD. Balance Sheet May 31
Assets		2021			2020
Cash		$26,600			$48,000
Accounts receivable		90,400			80,000
Inventory		189,000			161,000
Prepaid expenses		6,400			7,900
Land		142,000			82,000
Equipment		324,000			204,000
Accumulated depreciation		(82,200	)		(41,000	)
Total assets		$696,200			$541,900
Liabilities and Shareholders Equity
Accounts payable		$43,600			$41,000
Dividends payable		7,900			6,400
Income taxes payable		3,600			7,400
Mortgage payable		136,000			81,000
Common shares		221,000			167,000
Retained earnings		284,100			239,100
Total liabilities and shareholders equity		$696,200			$541,900

Additional Information:
1.		Profit for 2021 was $109,000.
2.		Common shares were issued for $54,000.
3.		Land with a cost of $54,000 was sold at a loss of $20,400.
4.		Purchased land with a cost of $114,000 with a $59,000 down payment and financed the remainder with a mortgage note payable.
5.		No equipment was sold during 2021.

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

Gain on Sale of LandSale of EquipmentDecrease in Prepaid ExpensesProfitIncrease in Income Taxes PayablePayments for TaxesIncrease in Accounts PayableDecrease in Accounts ReceivableDepreciation ExpensePayments to SuppliersIncrease in Prepaid ExpensesSale of LandCollections from CustomersPurchase of LandIncrease in Accounts ReceivableDecrease in Income Taxes PayablePayments of Cash DividendsLoss on Sale of LandIncrease in InventorySale of Common SharesDecrease in InventoryPurchase of EquipmentPayments for Operating ExpensesDecrease in Accounts Payable
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Payments for Operating ExpensesPurchase of LandSale of LandPurchase of EquipmentDepreciation ExpensePayments for TaxesDecrease in Prepaid ExpensesIncrease in InventoryDecrease in Accounts ReceivablePayments of Cash DividendsDecrease in InventoryIncrease in Accounts ReceivableLoss on Sale of LandIncrease in Income Taxes PayableIncrease in Prepaid ExpensesSale of Common SharesSale of EquipmentProfitCollections from CustomersPayments to SuppliersDecrease in Income Taxes PayableGain on Sale of LandDecrease in Accounts PayableIncrease in Accounts Payable	$
Decrease in Accounts ReceivableSale of Common SharesPayments for Operating ExpensesPurchase of EquipmentIncrease in Income Taxes PayableIncrease in Prepaid ExpensesDecrease in Accounts PayablePayments of Cash DividendsDecrease in Prepaid ExpensesLoss on Sale of LandIncrease in Accounts PayablePayments to SuppliersDecrease in InventoryProfitDepreciation ExpenseGain on Sale of LandPurchase of LandSale of LandDecrease in Income Taxes PayableIncrease in InventorySale of EquipmentPayments for TaxesCollections from CustomersIncrease in Accounts Receivable
Increase in InventorySale of Common SharesIncrease in Income Taxes PayableDecrease in Prepaid ExpensesProfitDecrease in Income Taxes PayableDepreciation ExpenseSale of EquipmentLoss on Sale of LandPayments for TaxesIncrease in Prepaid ExpensesDecrease in InventoryIncrease in Accounts PayableSale of LandDecrease in Accounts PayablePayments of Cash DividendsPurchase of EquipmentIncrease in Accounts ReceivablePayments to SuppliersPurchase of LandCollections from CustomersDecrease in Accounts ReceivablePayments for Operating ExpensesGain on Sale of Land
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Decrease in InventoryPurchase of LandDecrease in Accounts ReceivableDecrease in Prepaid ExpensesPurchase of EquipmentIncrease in Prepaid ExpensesIncrease in InventoryDecrease in Income Taxes PayableProfitDecrease in Accounts PayableGain on Sale of LandPayments for TaxesPayments to SuppliersDepreciation ExpenseLoss on Sale of LandIncrease in Accounts ReceivableCollections from CustomersPayments for Operating ExpensesSale of EquipmentPayments of Cash DividendsSale of Common SharesIncrease in Income Taxes PayableSale of LandIncrease in Accounts Payable	$
Sale of EquipmentPurchase of EquipmentIncrease in Accounts ReceivablePayments of Cash DividendsProfitIncrease in Accounts PayableLoss on Sale of LandIncrease in Prepaid ExpensesDepreciation ExpenseDecrease in InventoryPayments for Operating ExpensesIncrease in Income Taxes PayableDecrease in Prepaid ExpensesGain on Sale of LandDecrease in Accounts ReceivableSale of Common SharesIncrease in InventoryCollections from CustomersDecrease in Accounts PayablePurchase of LandDecrease in Income Taxes PayablePayments to SuppliersPayments for TaxesSale of Land
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash
Cash, June 1, 2020Cash, May 31, 2021Financing ActivitiesInvesting ActivitiesOperating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash		$

Note X: Land with as cost of $ was purchased by paying $ cash and issuing a mortgage note payable for $ .