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

PRONGHORN INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019
		12/31/20			12/31/19
Cash		$6,100			$7,000
Accounts receivable		62,200			51,500
Short-term debt investments (available-for-sale)		34,900			17,900
Inventory		40,300			60,500
Prepaid rent		5,000			3,900
Equipment		153,200			131,200
Accumulated depreciationequipment		(35,000	)		(24,700	)
Copyrights		46,200			49,800
Total assets		$312,900			$297,100
Accounts payable		$46,000			$40,000
Income taxes payable		4,000			6,000
Salaries and wages payable		7,900			4,000
Short-term loans payable		8,100			10,100
Long-term loans payable		59,800			69,200
Common stock, $10 par		100,000			100,000
Contributed capital, common stock		30,000			30,000
Retained earnings		57,100			37,800
Total liabilities & stockholders equity		$312,900			$297,100

PRONGHORN INC. INCOME STATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020
Sales revenue				$336,150
Cost of goods sold				174,100
Gross profit				162,050
Operating expenses				120,800
Operating income				41,250
Interest expense		$11,400
Gain on sale of equipment		1,900		9,500
Income before tax				31,750
Income tax expense				6,350
Net income				$25,400

Additional information:

1.		Dividends in the amount of $6,100 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 $20,200 and was 70% depreciated was sold during 2020.

Prepare a statement of cash flows using the direct method.