Fanning Company engaged in the following transactions for Year $1.$ The beginning cash balance was $$28,200$ and the ending cash balance was $$55,785.$

Sales on account were $$282,300.$ The beginning receivables balance was $$93,800$ and the ending balance was $$77,900.$

Salaries expense for the period was $$53,290.$ The beginning salaries payable balance was $$2,625$ and the ending balance was $$1,500.$

Other operating expenses for the period were $$129,420.$ The beginning other operating expenses payable balance was $$4,640$ and the ending balance was $$8,765.$

Recorded $$19,180$ of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $$13,520$ and $$32,700,$ respectively.

The Equipment account had beginning and ending balances of $$207,400$ and $$239,900,$ respectively. There were no sales of equipment during the period.

The beginning and ending balances in the Notes Payable account were $$52,000$ and $$155,500,$ respectively. There were no payoffs of notes during the period.

There was $$6,117$ of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $$1,743$ and $$1,162,$ respectively.

The beginning and ending Merchandise Inventory account balances were $$89,500$ and $$107,400,$ respectively. The company sold merchandise with a cost of $$157,576($cost of goods sold for the period was $$157,576).$ The beginning and ending balances in the Accounts Payable account were $$9,460$ and $$11,447,$ respectively.

The beginning and ending balances in the Notes Receivable account were $$4,700$ and $$9,800,$ respectively. Notes receivable result from long$-$term loans made to employees. There were no collections from employees during the period.

The beginning and ending balances in the Common Stock account were $$95,000$ and $$113,000,$ respectively. The increase was caused by the issue of common stock for cash.

Land had beginning and ending balances of $$46,800$ and $$34,206,$ respectively. Land that cost $$12,594$ was sold for $$9,290,$ resulting in a loss of $$3,304.$

The tax expense for the period was $$7,830.$ The Taxes Payable account had a $$990$ beginning balance and a $$912$ ending balance.

The Investments account had beginning and ending balances of $$21,700$ and $$24,700,$ respectively. The company purchased investments for $$17,000$ cash during the period, and investments that cost $$14,000$ were sold for $$21,000,$ resulting in a $$4,000$ gain. Prepare a statement of cash flows using the direct method.