Sunlands Custom Clothing (SCC) sells branded clothing to resorts and corporations. The companys comparative financial statements are presented below.

SUNLANDS CUSTOM CLOTHING STATEMENT OF FINANCIAL POSITION December 31
Current Assets		2020		2019
Cash		159,000		79,500
Accounts receivable		30,000		25,100
Inventory		67,000		46,100
Prepaid expenses		9,600		3,100
Total current assets		265,600		153,800
Property and equipment
Property and equipment		106,000		143,000
Less: Accumulated depreciation		58,200		58,400
Net property and equipment		47,800		84,600
TOTAL ASSETS		$313,400		$238,400
Current liabilities
Accounts payable		25,200		31,000
Salaries payable		9,200		5,000
Interest payable		4,700		8,100
Total current liabilities		39,100		44,100
Loan payable		124,000		112,000
Total liabilities		163,100		156,100
Shareholders' equity
Common shares		19,100		1,600
Retained earnings		131,200		80,700
Total shareholders' equity		150,300		82,300
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$313,400		$238,400

SUNLANDS CUSTOM CLOTHING INCOME STATEMENT For the Years Ended December 31
		2020		2019
Sales revenue		876,000		751,000
Cost of sales		617,000		558,000
Gross margin		259,000		193,000
Expenses
Salary expense		96,000		94,000
Interest expense		4,800		2,000
Other expenses		8,000		6,200
Depreciation expense		29,000		31,800
Total expenses		137,800		134,000
Operating income		121,200		59,000
Loss on disposal of equipment		3,800		1,100
Income tax expense		30,300		17,400
Net income		87,100		40,500

Following is additional information concerning SCCs transactions during the year ended December 31, 2020:

		Equipment costing $36,000 was purchased by paying $25,000 cash and issuing 400 common shares.
		Equipment costing $73,000 that was purchased at the beginning of 2019 was sold at the end of 2020 for $40,000. Straight-line depreciation had been used with an expected asset life of 5 years and a residual value of $0.
		The other expenses relate to prepaid items.
		In order to supplement its cash, SCC increased its bank loan by $12,000.
		Cash dividends of $36,600 were paid at the end of the fiscal year.
		Cost of sales includes $184,000 of direct labour costs.

Prepare a statement of cash flows for SCC for the year ended December 31, 2020, using the direct method. CCC follows ASPE. Include any note disclosure on non-cash financing and investing transactions. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)