Speedofflight Cars sells car accessories. At the end of 2018, the income statement and comparative balance sheet were prepared as shown below.

Speedofflight Cars Balance Sheet As at June 30
	2018	2017
Assets
Current Assets
Cash	$162,815	$64,100
Accounts Receivable	$87,600	$99,300
Merchandise Inventory	$214,000	$184,600
Prepaid Expenses	$15,500	$15,500
Total Current Assets	$479,915	$363,500
Noncurrent Assets
Land		$38,000
Equipment	$328,000	$328,000
Less: Accumulated Depreciation	$-25,100	$-23,300
Total Noncurrent Assets	$302,900	$342,700
Total Assets	$782,815	$706,200
Liabilities
Current Liabilities
Accounts Payable	$52,700	$45,400
Notes Payable, Current Portion	$8,600	$8,600
Total Current Liabilities	$61,300	$54,000
Notes Payable, Long-Term Portion	$54,400	$63,000
Total Liabilities	$115,700	$117,000
Stockholders' Equity
Common Stock	$153,000	$153,000
Retained Earnings	$514,115	$436,200
Total Stockholders' Equity	$667,115	$589,200
Total Liabilities and Equity	$782,815	$706,200

Additional Information: During 2018, land was sold for a gain of $7,500. There was no purchase of equipment throughout the year.

Speedofflight Cars Income Statement For the Year Ended June 30, 2018
Sales	$567,000
Cost of Goods Sold	$340,200
Gross Profit	$226,800
Operating Expenses
Depreciation Expense	$1,800
Other Operating Expenses	$63,400
Total Operating Expenses	$65,200
Income from Operations	$161,600
Other Revenue
Gain on Sale of Land	$7,500
Income before Income Tax	$169,100
Income Tax	$59,185
Net Income	$109,915

Prepare the statement of cash flows using the direct method. Assume accounts payable is only for the purchase of merchandise inventory. Do not show the reconciliation schedule of net income with net cash provided (used) by operating activities at the bottom of the statement of cash flows.

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 June 30, 2018
Cash Flow from Operating Activities
Cash Receipts
Cash Received from Customers		Answer
Cash Payments
Payments for Merchandise Inventory	Answer
Payments for Other Operating Expenses	Answer
Payments for Income Taxes	Answer
Total Cash Payments		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