PLEASE ANSWER

Flounder Inc., a retailer of garden tools that follows ASPE, had the following statements prepared as of December 31, 2023: Additional information: 1. Dividends on common shares in the amount of $11,000 were declared and paid during 2023. 2. Depreciation expense of $21,550 is included in operating expenses. 3. Equipment with a cost of $20,500 that was 70% depreciated was sold during 2023 . (a) Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) Flounder Inc., a retailer of garden tools that follows ASPE, had the following statements prepared as of December 31, 2023: Additional information: 1. Dividends on common shares in the amount of $11,000 were declared and paid during 2023. 2. Depreciation expense of $21,550 is included in operating expenses. 3. Equipment with a cost of $20,500 that was 70% depreciated was sold during 2023 . (a) Prepare a statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)