IFRS 23-7

Skysong Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information.

		December 31
		2017			2016
Buildings		$	0		$28,550
Equipment			44,000		19,000
Patents			4,920		6,150
Investments			0		2,900
Inventory			10,400		7,800
Accounts receivable			12,150		8,800
Cash			34,580		12,800
		$	106,050		$86,000
Share capitalordinary		$	42,800		$32,800
Retained earnings			20,650		5,800
Allowance for doubtful accounts			2,900		4,300
Accumulated depreciation on equipment			1,900		4,300
Accumulated depreciation on buildings			0		5,800
Accounts payable			5,100		2,900
Dividends payable			0		4,900
Long-term notes payable			29,800		21,300
Notes payable, short-term (non-trade)			2,900		3,900
		$	106,050		$86,000

Additional data related to 2017 are as follows.

1.		Equipment that had cost $10,800 and was 40% depreciated at time of disposal was sold for $2,400.
2.		$10,000 of the long-term notes payable was paid by issuing ordinary shares.
3.		Cash dividends paid were $4,900.
4.		On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,800.
5.		Equity investments (non-trading) were sold at $1,600 above their cost.
6.		Cash was paid for the acquisition of equipment.
7.		A long-term note for $18,500 was issued for the acquisition of equipment.
8.		Interest of $1,900 and income taxes of $6,800 were paid in cash.

Prepare a statement of cash flows using the indirect method. (If an amount reduces the account balance then enter with negative sign.)