Riverbed Inc., a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The company is currently preparing its statement of cash flows and follows the policy of classifying interest paid as operating cash flows and dividends paid as financing cash flows. The comparative statement of financial position and income statement for Riverbed as of May 31, 2020, are as follows:

The following is additional information about transactions during the year ended May 31, 2020, for Riverbed Inc., which follows IFRS.

1.		Plant assets costing $90,000 were purchased by paying $47,000 in cash and issuing 5,000 common shares.
2.		The other expenses relate to prepaid items.
3.		In order to supplement its cash, Riverbed issued 4,000 additional common shares.
4.		There were no penalties assessed for the repayment of the mortgage.
5.		Cash dividends of $78,950 were declared and paid at the end of the fiscal year.

Prepare a statement of cash flows for Riverbed Inc. for the year ended May 31, 2020, 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).)

RIVERBED INC. Statement of Financial Position As at May 31 Current assets 2020 2019 Cash $35,140 $20,440 Accounts receivable 78,230 56,030 Inventory 188,620 199,310 Prepaid expenses 8,020 7,170 Total current assets 310,010 282,950 Plant assets 593,500 503,500 Less: Accumulated depreciation 151,440 122,440 Net plant assets 442,060 381,060 Total assets $752,070 $664,010 Current liabilities Accounts payable $118,430 $115,430 Salaries and wages payable 60,780 72,170 Interest payable 25,730 22,910 Total current liabilities 204,940 210,510 Mortgage payable 76,790 102,000 Total liabilities 281,730 312,510 Shareholders' equity Common shares 335,960 280,000 Retained earnings 134,380 71,500 Total shareholders' equity 470,340 351,500 Total liabilities and shareholders' equity $752,070 $664,010 RIVERBED INC. Income Statement For the Year Ended May 31, 2020 Sales $ 1,338,230 Cost of goods sold 805,000 Gross margin 533,230 Expenses Salaries and wages expense 207,000 Interest expense 66,100 Other operating expenses 23,000 Depreciation expense 29,000 Total operating expenses 325,100 Operating income 208,130 Income tax expense 66,300 Net earnings $ 141,830 Riverbed Inc. Statement of Cash Flows (Direct Method) For the Year Ended May 31, 2020 Cash Flows from Operating Activities Cash Received from Customers $ 1316030 Cash Paid to Suppliers for Goods for Resale $ -791310 i Cash Paid to and on Behalf of Employees -218390 i Cash Paid for Interest -63280 i Cash Paid to Suppliers for Other Operating Expenses -23850 i Cash Paid for Income Taxes -66300 i - 1163130 Net Cash Provided by Operating Activities 152900 Cash Flows from Investing Activities Purchase of Plant Assets -47000 Cash Flows from Financing Activities Dividends Paid -78950 Proceeds from Issuance of Common Shares 12960 Principal Payment of Mortgage Net Cash Used by Financing Activities Net Increase in Cash 14700 Cash, June 1, 2019 20440 Cash, May 31, 2020 $ 35140 Schedule of non-cash investing and financing activities Issuance of Common Shares for Plant Assets $ 43000