Metlock Inc., a greeting card company, had the following statements prepared as of December 31, 2020.

METLOCK INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019
		12/31/20			12/31/19
Cash		$5,900			$7,100
Accounts receivable		62,000			51,000
Short-term debt investments (available-for-sale)		35,000			18,100
Inventory		40,400			59,900
Prepaid rent		5,000			4,000
Equipment		153,300			129,100
Accumulated depreciationequipment		(35,000	)		(24,800	)
Copyrights		46,300			50,300
Total assets		$312,900			$294,700
Accounts payable		$46,500			$40,200
Income taxes payable		4,100			6,100
Salaries and wages payable		8,100			4,100
Short-term loans payable		8,000			10,100
Long-term loans payable		60,600			69,600
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		55,600			34,600
Total liabilities & stockholders equity		$312,900			$294,700

METLOCK INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020
Sales revenue				$338,150
Cost of goods sold				175,700
Gross profit				162,450
Operating expenses				119,400
Operating income				43,050
Interest expense		$11,300
Gain on sale of equipment		2,000		9,300
Income before tax				33,750
Income tax expense				6,750
Net income				$27,000

Additional information:

1.		Dividends in the amount of $6,000 were declared and paid during 2020.
2.		Depreciation expense and amortization expense are included in operating expenses.
3.		No unrealized gains or losses have occurred on the investments during the year.
4.		Equipment that had a cost of $19,800 and was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the direct method.