Pharoah Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2021, and 2020.

PHAROAH LTD. Balance Sheet May 31
Assets		2021			2020
Cash		$24,200			$46,000
Accounts receivable		87,600			78,000
Inventory		181,000			159,000
Prepaid expenses		5,600			7,100
Land		132,000			78,000
Equipment		316,000			196,000
Accumulated depreciation		(74,200	)		(39,000	)
Total assets		$672,200			$525,100
Liabilities and Shareholders Equity
Accounts payable		$42,400			$39,000
Dividends payable		7,100			5,600
Income taxes payable		2,800			6,600
Mortgage payable		128,000			79,000
Common shares		217,000			165,000
Retained earnings		274,900			229,900
Total liabilities and shareholders equity		$672,200			$525,100

Additional Information:
1.		Profit for 2021 was $107,000.
2.		Common shares were issued for $52,000.
3.		Land with a cost of $52,000 was sold at a loss of $19,600.
4.		Purchased land with a cost of $106,000 with a $57,000 down payment and financed the remainder with a mortgage note payable.
5.		No equipment was sold during 2021

1) Prepare a cash flow statement for the year using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) ?

2) Note X: Land with as cost of $ .............was purchased by paying $............. cash and issuing a mortgage note payable for $ ...................