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Avonics Ltd., which follows ASPE had the following comparative statement of financial position:

Avonics Ltd. Comparative Statement of Financial Position December 31
Assets			2021				2020
Cash			$	82,000			$	50,000
Accounts receivable				136,000				102,000
Inventory				80,000				120,000
Prepaid insurance				10,000				8,000
Equipment				308,000				274,000
Accumulated depreciationequipment				(70,000	)			(50,000	)
	Total assets		$	546,000			$	504,000
Liabilities and Shareholders Equity
Accounts payable			$	86,000			$	72,000
Salaries and wages payable				12,000				8,000
Income taxes payable				16,000				18,000
Mortgage payable				110,000				124,000
Common shares				220,000				210,000
Retained earnings				102,000				72,000
	Total liabilities and shareholders equity		$	546,000			$	504,000

Additional information:

		Net income was $54,600.
		New equipment was purchased and none was sold.
		Common shares were issued for cash.
		Cash dividends were paid to common shareholders.

Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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