River Edge Hotels has completed its financial statements for 2020. The income statement and comparative balance sheet were prepared as shown below.

River Edge Hotels Balance Sheet As at November 30
	2020	2019
Assets
Current Assets
Cash	$173,335	$61,100
Accounts Receivable	$82,500	$94,800
Inventory	$216,000	$195,300
Prepaid Expenses	$16,700	$16,700
Total Current Assets	$488,535	$367,900
Long-Term Assets
Land	$0	$40,000
Equipment	$332,000	$332,000
Accumulated Depreciation	$-27,500	$-23,900
Total Long-Term Assets	$304,500	$348,100
Total Assets	$793,035	$716,000
Liabilities
Current Liabilities
Accounts Payable	$54,500	$42,900
Notes Payable, Current Portion	$8,900	$8,900
Total Current Liabilities	$63,400	$51,800
Notes Payable, Long-Term Portion	$55,100	$64,000
Total Liabilities	$118,500	$115,800
Shareholders' Equity
Common Shares	$142,000	$142,000
Retained Earnings	$532,535	$458,200
Total Shareholders' Equity	$674,535	$600,200
Total Liabilities and Equity	$793,035	$716,000

Additional Information: During 2020, land was sold for a gain of $8,000. There was no purchase of equipment throughout the year.

River Edge Hotels Income Statement For the Year Ended November 30, 2020
Revenue	$553,000
Cost of Sales	$331,800
Gross Profit	$221,200
Operating Expenses
Depreciation Expense	$3,600
Other Operating Expenses	$69,700
Total Operating Expenses	$73,300
Income from Operations	$147,900
Other Income and Expenses
Gain on Sale of Land	$8,000
Income before Income Tax	$155,900
Income Tax	$54,565
Net Income	$101,335

Prepare the statement of cash flows using the indirect method.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

River Edge Hotels Cash Flow Statement For the Year Ended November 30, 2020
Cash Flow from Operating Activities
Net Income	Answer
Adjustments for Non-Cash Items
Depreciation Expense	Answer
Gain on Sale of Land	Answer
Changes in Current Assets and Current Liabilities
Change in Accounts Receivable	Answer
Change in Inventory	Answer
Change in Accounts Payable	Answer
Net Cash Provided (Used) by Operating Activities		Answer
Cash Flow from Investing Activities
Sale of Land	Answer
Net Cash Provided (Used) by Investing Activities		Answer
Cash Flow from Financing Activities
Payment of Notes Payable	Answer
Payment of Cash Dividend	Answer
Net Cash Provided (Used) by Financing Activities		Answer
Net increase (decrease) in cash		Answer
Cash at the Beginning of the Year		Answer
Cash at the End of the Year		Answer