Statement of Cash FlowsDirect Method

The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows:

		Dec. 31, 20Y6		Dec. 31, 20Y5
Assets
Cash		$303,670		$282,160
Accounts receivable (net)		110,010		101,340
Inventories		310,560		300,040
Investments		0		116,240
Land		159,280		0
Equipment		342,630		265,270
Accumulated depreciation-equipment		(80,220)		(71,530)
	Total assets	$1,145,930		$993,520
Liabilities and Stockholders' Equity
Accounts payable		$207,410		$195,720
Accrued expenses payable		20,630		25,830
Dividends payable		11,460		8,940
Common stock, $10 par		61,880		48,680
Paid-in capital: Excess of issue price over par-common stock		232,620		135,120
Retained earnings		611,930		579,230
	Total liabilities and stockholders equity	$1,145,930		$993,520

The income statement for the year ended December 31, 20Y6, is as follows:

Sales					$1,756,110
Cost of merchandise sold					723,100
Gross profit					$1,033,010
Operating expenses:
	Depreciation expense		$8,690
	Other operating expenses		911,910
		Total operating expenses			920,600
Operating income					$112,410
Other expense:
		Loss on sale of investments			(31,380)
Income before income tax					$81,030
Income tax expense					25,930
Net income					$55,100

Additional data obtained from an examination of the accounts in the ledger for 20Y6 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $84,860 cash.
4. The common stock was issued for cash.
5. There was a $22,400 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Canace Products Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y6
Cash flows from operating activities:
	$
Net cash flow from operating activities		$
Cash flows from (used for) investing activities:
	$
Net cash flow used for investing activities
Cash flows from (used for) financing activities:
	$
Net cash flow from financing activities
		$
Cash at the beginning of the year
Cash at the end of the year		$