Speedofflight Cars sells car accessories. At the end of 2014, the income statement and comparative balance sheet were prepared as shown below. Based on the information given, prepare a cash flow statement for Speedofflight Cars

Speedofflight Cars Balance Sheet As at October 31
	2014	2013
ASSETS
Current Assets
Cash	$87,297	$61,400
Accounts receivable	$76,000	$75,700
Inventory	$329,000	$253,800
Prepaid expenses	$12,500	$12,500
Total Current Assets	$504,797	$403,400
Long-Term Assets
Property, plant & equipment(1)	$324,000	$386,000
Less: Accumulated depreciation	$-25,300	$-21,500
TOTAL ASSETS	$803,497	$767,900
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable	$49,500	$46,500
Current portion of bank loan	$8,100	$8,100
Total Current Liabilities	$57,600	$54,600
Long-Term Liabilities
Long-term portion of bank loan	$49,000	$70,000
TOTAL LIABILITIES	$106,600	$124,600
Stockholders' Equity
Common Stock	$165,000	$165,000
Retained earnings(2)	$531,897	$478,300
TOTAL STOCKHOLDERS' EQUITY	$696,897	$643,300
TOTAL LIABILITIES AND EQUITY	$803,497	$767,900

Additional Information: 1. Property, Plant & Equipment During 2014, land was sold for a gain of $5,700. The cash proceeds from the sale totalled $67,700. 2. Retained Earnings Speedofflight Cars declared and paid $31,000 in dividends in 2014.

Speedofflight Cars Income Statement For the Year Ended October 31, 2014
Sales	$553,000
COGS	$359,450
Gross Profit	$193,550
Operating Expenses
Depreciation Expense	$3,800
Other operating expenses	$65,300
Total Operating Expenses	$69,100
Operating Income	$124,450
Other Income
Gain on Sale of Land	$5,700
Net Income Before Tax	$130,150
Income Tax	$45,553
Net Income	$84,597

Create the cash flow statement using the indirect method.

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

Speedofflight Cars Cash Flow Statement For the Year Ended October 31, 2014
Cash Flow from Operations
Net Income	Answer
Add: Depreciation	Answer
Deduct: Gain on sale of Land	Answer
Change in Current Assets and Current Liabilities
Increase in Accounts Receivable	Answer
Increase in inventory	Answer
Increase in accounts payable	Answer
Change in Cash Due to Operations		Answer
Cash Flow from Investing
Sale of Land	Answer
Change in Cash Due to Investing		Answer
Cash Flow from Financing
Payment of bank loan	Answer
Payment of cash dividend	Answer
Change in Cash Due to Financing		Answer
Net increase (decrease) in cash		Answer
Cash at the beginning of the year		Answer
Cash at the end of the year		Answer