Here is a statement of financial position for Big Bang Balloons Pty Ltd:

BIG BANG BALLOONS PTY LTD Statement of financial position as at 30 June 2015

	2015	2014
Assets
Cash	$72 000	$26 400
Accounts receivable	102 000	91 200
Inventories	216 000	226 800
Land	90 000	120 000
Equipment	312 000	240 000
Accumulated depreciation	(79 200)	(50 400)
Total	$712 800	$654 000
Liabilities and equity
Accounts payable	$40 800	$56 400
Notes payable (long term)	180 000	240 000
Share capital	256 800	196 800
Retained earnings	235 200	160 800
Total	$712 800	$654 000

Additional information:

Profit for 2015 was $126 000. Total expenses were $1 047 600 and included cost of sales expense $633 600, interest paid $18 000, and tax expense $54 000.

Cash dividends of $51 600 were declared and paid.

Notes payable amounting to $60 000 were redeemed for cash $60 000.

Ordinary shares were issued for $60 000 cash.

Sales for 2015 were $1 173 600.

Land was sold at cost.

Required

Prepare a statement of cash flows for 2015 using the direct method.(using workings)