MontyInc. reported the following information at the end of its 2019 fiscal year.

MontyInc.

Statement of Financial Position

As at April 30

Assets20202019Cash207,000155,000Accounts receivable

111,00094,000Inventory

107,000250,000Prepaid operating expenses

20,00013,000Long term investments

188,00083,000Equipment

1,219,0001,148,000Less: Accumulated depreciation

(364,000)(370,000)1,488,0001,373,000Liabilities and Shareholders' EquityAccounts payable

51,00064,000Income tax payable

28,00026,000Bonds payable

677,000749,000Common shares

280,000254,000Retained earnings

452,000280,0001,488,0001,373,000

MontyInc.

Income Statement

For the year ended April 30, 2020

Sales revenue1,136,000Cost of goods sold673,000Gross profit463,000Operating expenses221,000Income from operations242,000Interest expense4,800Gain on disposal of equipment3,700Income before income tax240,900Income tax expense18,490Net income$222,410

ADDITIONAL INFORMATION:

Depreciation expense is included in "operating expenses." All accounts payable transactions were related to the purchase of inventory.During the year, a piece of equipment that originally cost $51,700was sold for cash. The equipment was 70% depreciated at the time of the sale.Long-term investments were purchased for cash during the year.

Prepare statement of cash flows, in good form, forMontyInc., using the direct method.MontyInc. follows ASPE.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)