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

SWIFTYS CUSTOM CLOTHING STATEMENT OF FINANCIAL POSITION December 31
Current Assets		2020		2019
Cash		162,000		74,900
Accounts receivable		31,000		24,100
Inventory		73,000		46,100
Prepaid expenses		10,100		2,800
Total current assets		276,100		147,900
Property and equipment
Property and equipment		92,000		137,000
Less: Accumulated depreciation		54,500		76,700
Net property and equipment		37,500		60,300
TOTAL ASSETS		$313,600		$208,200
Current liabilities
Accounts payable		24,500		30,400
Salaries payable		8,900		5,200
Interest payable		5,300		8,100
Total current liabilities		38,700		43,700
Loan payable		122,000		93,000
Total liabilities		160,700		136,700
Shareholders' equity
Common shares		19,800		1,600
Retained earnings		133,100		69,900
Total shareholders' equity		152,900		71,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$313,600		$208,200

SWIFTYS CUSTOM CLOTHING INCOME STATEMENT For the Years Ended December 31
		2020		2019
Sales revenue		911,000		782,000
Cost of sales		657,000		535,000
Gross margin		254,000		247,000
Expenses
Salary expense		122,000		106,000
Interest expense		4,700		2,000
Other expenses		7,600		5,700
Depreciation expense		9,000		12,100
Total expenses		143,300		125,800
Operating income		110,700		121,200
Loss disposal of equipment		7,800		1,000
Income tax expense		27,675		17,900
Net income		75,225		102,300

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

		Equipment costing $33,000 was purchased by paying $26,000 cash and issuing 400 common shares.
		Equipment costing $78,000 that was purchased at the beginning of 2019 was sold at the end of 2020 for $39,000. 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 $29,000.
		Cash dividends of $12,025 were paid at the end of the fiscal year.
		Cost of sales includes $168,000 of direct labour costs.

Prepare a statement of cash flows for SCC for the year ended December 31, 2020, using the indirect method. SCC follows ASPE. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)