he comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows:

		Dec. 31, 20Y6		Dec. 31, 20Y5
Assets
Cash		$300,350		$281,650
Accounts receivable (net)		108,800		101,150
Inventories		307,150		299,490
Investments		0		116,030
Land		157,540		0
Equipment		338,880		264,790
Accumulated depreciation-equipment		(79,340)		(71,400)
	Total assets	$1,133,380		$991,710
Liabilities and Stockholders' Equity
Accounts payable		$205,140		$195,370
Accrued expenses payable		20,400		25,780
Dividends payable		11,330		8,930
Common stock, $10 par		61,200		48,590
Paid-in capital: Excess of issue price over par-common stock		230,080		134,870
Retained earnings		605,230		578,170
	Total liabilities and stockholders equity	$1,133,380		$991,710

The income statement for the year ended December 31, 20Y6, is as follows:

Sales					$1,623,520
Cost of merchandise sold					668,500
Gross profit					$955,020
Operating expenses:
	Depreciation expense		$7,940
	Other operating expenses		843,160
		Total operating expenses			851,100
Operating income					$103,920
Other expense:
		Loss on sale of investments			(31,330)
Income before income tax					$72,590
Income tax expense					23,230
Net income					$49,360

Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $84,700 cash.
4. The common stock was issued for cash.
5. There was a $22,300 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.