Daimon Inc began operations on January 1, 2014. Its adjusted trial balance at December 31, 2015 and 2016 is shown below. Other information regarding Bentley Inc. and its activities during 2016 follow in (a) through (f) :

1. Assume all accounts have normal balances.
2. $9,000 of the long-term notes payable will be paid during 2017.
3. Equipment was sold for cash of $47,500.
4. Old machinery was sold for cash of $12,800. New machinery was purchased for $49,000 cash.
5. Common shares were issued for cash.
6. Cash dividends were declared and paid.

Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2016. Assume that interest is treated as an operating activity and dividends paid as a financing activity. For simplicity, ignore the required disclosures for cash flows associated with interest paid and received, dividends paid and received and income taxes as well as any non-cash disclosures that may have occurred in the current year. Please make sure your final answer(s) are accurate to 2 decimal places.

Account	Dec 31 2016	Dec 31 2015
Accounts Payable	35040	46000
Accounts receivable	58400	58000
Accumulated Depreciation, Equipment	55000	42000
Accumulated Depreciation Machinery	10700	82000
Allowance for doubtful accounts	6400	2000
Depreciation expense, equipment	10200	10200
Depreciation expense, machinery	8600	8600
Cash	361000	330000
Dividends	56000	56000
Equipment	47300	143000
Machinery	73100	116000
Inventory	13230	15000
Long-term notes payable	46380	60000
Other expenses (Inluding lossess)	640000	25000
Retained Earnings	75000	60000
Revenues (including gains	688800	1148000
Common Shares	361000	321000
Unearned Revenue	39010	34000

Statement Of Cash Flows For the year ended December 31,2016
Cash flows from operating activities
Net income		30000
Depreciation Exp
Decrease in account receivable
Decrease in inventory
Decrease in account payable
Increase in unearned revenues
Loss on sale of equipment
Gain on sale of machinery
Net cash from operating activities		30000+(19320) = 49320
Cash flows from investing activities
Cash paid for machinery
Cash received from sale of equipment
Cash received from sale of machinery
Net cash from investing activities
Cash flows from financing activities
Cash received from common share issuance
Repayment of long-term note
Cash paid for dividends
Net cash from financing activities
Cash and cash equivalents (beginning of year)		330000
Cash and cash equivalents (end of year)		361000