Sunland Ltd., a private company reporting under ASPE, reported the following for the years ended May 31, 2017, and 2016.

SUNLAND LTD. Balance Sheet May 31
Assets		2017			2016
Cash		$32,175			$43,750
Accounts receivable		84,450			75,750
Inventory		172,000			156,750
Prepaid expenses		4,700			6,200
Land		120,750			73,500
Equipment		307,000			187,000
Accumulated depreciation		(65,200	)		(36,750	)
Total assets		$655,875			$506,200
Liabilities and Shareholders Equity
Accounts payable		$41,050			$36,750
Dividends payable		6,200			4,700
Income taxes payable		1,900			5,700
Mortgage payable		119,000			76,750
Common shares		212,500			162,750
Retained earnings		275,225			219,550
Total liabilities and shareholders equity		$655,875			$506,200

Additional Information:
1.		Profit for 2017 was $115,425.
2.		Common shares were issued for $49,750.
3.		Land with a cost of $49,750 was sold at a loss of $18,700.
4.		Purchased land with a cost of $97,000 with a $54,750 down payment and financed the remainder with a mortgage note payable.
5.		No equipment was sold during 2017.
6.		Net sales for the year were $672,400.
7.		Cost of goods sold for the year was $398,600.
8.		Operating expenses, including depreciation expense, were $96,500.
9.		Interest expense was $4,700.
10.		Income tax expense was $38,475.
11.		Accounts payable is used for merchandise purchases.

Prepare a cash flow statement for the year 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).)