RAMBLE CORPORATION Statement of Financial Position
		December 31
Assets		2020			2019
Cash		$78,000			$34,800
Accounts receivable		104,400			70,800
Inventory		159,600			97,200
FV-OCI investments in shares		75,600			100,800
Land		78,000			123,600
Equipment		468,000			516,000
Accumulated depreciationequipment		(140,400	)		(103,200	)
Goodwill		148,800			207,600
Total		$972,000			$1,047,600
Liabilities and Shareholders Equity
Accounts payable		$14,400			$61,200
Dividends payable		18,000			38,400
Notes payable		264,000			402,000
Common shares		318,000			150,000
Retained earnings		345,600			340,800
Accumulated other comprehensive income		12,000			55,200
Total		$972,000			$1,047,600

Additional information:

1.		Net income for the fiscal year ending December 31, 2020, was $22,800.
2.		In March 2020, a plot of land was purchased for future construction of a plant site. In November 2020, a different plot of land with original cost of $103,200 was sold for proceeds of $114,000.
3.		In April 2020, notes payable amounting to $168,000 were retired through the issuance of common shares. In December 2020, notes payable amounting to $30,000 were issued for cash.
4.		FV-OCI investments were purchased in July 2020 for a cost of $18,000. By December 31, 2020, the fair value of Brambles portfolio of FVOCI investments decreased to $75,600. No FVOCI investments were sold in the year.
5.		On December 31, 2020, equipment with an original cost of $48,000 and accumulated depreciation to date of $14,400 was sold for proceeds of $25,200. No equipment was purchased in the year.
6.		Dividends on common shares of $38,400 and $18,000 were declared in December 2019 and December 2020, respectively. The 2019 dividend was paid in January 2020 and the 2020 dividend was paid in January 2021. Dividends paid are treated as financing activities.
7.		A loss on impairment was recorded in the year to reflect a decrease in the recoverable amount of goodwill. No goodwill was purchased or sold in the year.

(a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities.

RAMBLE CORPORATION Statement of Financial Position
		December 31
Assets		2020			2019
Cash		$78,000			$34,800
Accounts receivable		104,400			70,800
Inventory		159,600			97,200
FV-OCI investments in shares		75,600			100,800
Land		78,000			123,600
Equipment		468,000			516,000
Accumulated depreciationequipment		(140,400	)		(103,200	)
Goodwill		148,800			207,600
Total		$972,000			$1,047,600
Liabilities and Shareholders Equity
Accounts payable		$14,400			$61,200
Dividends payable		18,000			38,400
Notes payable		264,000			402,000
Common shares		318,000			150,000
Retained earnings		345,600			340,800
Accumulated other comprehensive income		12,000			55,200
Total		$972,000			$1,047,600

Additional information:

1.		Net income for the fiscal year ending December 31, 2020, was $22,800.
2.		In March 2020, a plot of land was purchased for future construction of a plant site. In November 2020, a different plot of land with original cost of $103,200 was sold for proceeds of $114,000.
3.		In April 2020, notes payable amounting to $168,000 were retired through the issuance of common shares. In December 2020, notes payable amounting to $30,000 were issued for cash.
4.		FV-OCI investments were purchased in July 2020 for a cost of $18,000. By December 31, 2020, the fair value of Brambles portfolio of FVOCI investments decreased to $75,600. No FVOCI investments were sold in the year.
5.		On December 31, 2020, equipment with an original cost of $48,000 and accumulated depreciation to date of $14,400 was sold for proceeds of $25,200. No equipment was purchased in the year.
6.		Dividends on common shares of $38,400 and $18,000 were declared in December 2019 and December 2020, respectively. The 2019 dividend was paid in January 2020 and the 2020 dividend was paid in January 2021. Dividends paid are treated as financing activities.
7.		A loss on impairment was recorded in the year to reflect a decrease in the recoverable amount of goodwill. No goodwill was purchased or sold in the year.

(a) Prepare a statement of cash flows using the indirect method for cash flows from operating activities.