Tamarisk Inc. is a major retailer of road bicycles and a promoter of riding bicycles to work, both to save the environment and improve physical fitness. Financial statements for Tamarisk are presented below.

STATEMENT OF FINANCIAL POSITION December 31
Current Assets			2021			2020
	Cash		56,100			20,850
	Accounts receivable		24,900			10,250
	Inventory		31,150			16,150
	Prepaid expenses		15,250			10,250
	Total current assets		127,400			57,500
Property and Equipment
	Property and equipment		161,000			151,000
	Less: Accumulated depreciation		78,900			70,000
	Net property and equipment		82,100			81,000
TOTAL ASSETS			$209,500			$138,500
Current Liabilities
	Accounts payable		11,700			15,600
	Salaries payable		10,250			8,250
	Interest payable		2,250			3,250
	Total current liabilities		24,200			27,100
	Loan payable		101,000			61,000
Total Liabilities			125,200			88,100
Shareholders Equity
	Common shares		10,500			1,050
	Retained earnings		73,800			49,350
	Total shareholders equity		84,300			50,400
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			$209,500			$138,500

INCOME STATEMENT For the Years Ended December 31
				2021		2020
Sales revenue				613,000		500,000
Cost of sales				419,000		350,000
Gross margin				194,000		150,000
Expenses
Salary expense				136,000		125,000
Interest expense				3,500		2,400
Other expenses				6,000		3,000
Depreciation expense				14,900		8,000
Total expenses				160,400		138,400
Operating income				33,600		11,600
Gain on disposal of equipment				2,000		-
Income tax expense				6,400		1,972
Net income				$29,200		$9,628

The following is additional information concerning Tamarisks transactions during the year ended December 31, 2021:

		Equipment costing $40,000 was purchased by paying $34,700 cash and issuing 100 shares.
		Equipment costing $30,000 that was purchased at the beginning of 2020 was sold at the end of 2021 for $26,000. Straight-line depreciation had been used with an expected asset life of 10 years and a residual value of $0.
		The other expenses relate to prepaid items.
		In order to supplement its cash, Tamarisk borrowed an additional $40,000.
		Cash dividends of $4,750 were paid at the end of the fiscal year.
		Cost of sales includes $135,000 of direct labour costs.

Prepare a statement of cash flows for Tamarisk for the year ended December 31, 2021, using the direct method. Tamarisk 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).)