The balance sheet and income statement for Joe's Fish Hut are presented below:

Joe's Fish Hut Balance Sheet As at July 31
	2020	2019
ASSETS
Current Assets
Cash	$129,588	$51,100
Accounts receivable	$20,900	$15,600
Merchandise Inventory	$21,000	$28,500
Total Current Assets	$171,488	$95,200
Equipment(1)	$146,000	$189,000
Less: Accumulated depreciation	$-26,700	$-21,700
TOTAL ASSETS	$290,788	$262,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable	$29,600	$41,800
Notes payable-current portion	$7,600	$7,600
Total Current Liabilities	$37,200	$49,400
Notes payable-long-term portion	$81,000	$60,000
TOTAL LIABILITIES	$118,200	$109,400
Shareholders' Equity
Common shares	$72,000	$57,900
Retained earnings(2)	$100,588	$95,200
TOTAL SHAREHOLDERS' EQUITY	$172,588	$153,100
TOTAL LIABILITIES AND EQUITY	$290,788	$262,500

Additional Information: 1. Equipment During 2020, equipment was sold for a gain of $4,600. The cash proceeds from the sale totaled $47,600. 2. Retained Earnings Joe's Fish Hut declared and paid $6,000 in dividends in 2020.

Joe's Fish Hut Income Statement For the Year Ended July 31, 2020
Sales	$128,000
COGS	$83,200
Gross Profit	$44,800
Operating Expenses
Depreciation Expense	$5,000
Other operating expenses	$26,880
Total Operating Expenses	$31,880
Operating Income	$12,920
Other Income
Gain on Sale of Equipment	$4,600
Net Income Before Tax	$17,520
Income Tax	$6,132
Net Income	$11,388

Create the cash flow statement using the indirect method.

Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.

Joe's Fish Hut Cash Flow Statement For the Year Ended July 31, 2020
Cash Flow from Operating Activities
Net Income	Answer
Add: Depreciation	Answer
Less: Gain on sale of equipment	Answer
Change in Operating Assets and Liabilities
Change in Accounts Receivable	Answer
Change in Merchandise Inventory	Answer
Change in Accounts Payable	Answer
Net Cash Provided (Used) by Operating Activities		Answer
Cash Flow from Investing Activities
Sale of equipment	Answer
Net Cash Provided (Used) by Investing Activities		Answer
Cash Flow from Financing Activities
Issue of common shares	Answer
Receipt of notes payable	Answer
Payment of cash dividend	Answer
Net Cash Provided (Used) by Financing Activities		Answer
Net increase (decrease) in cash		Answer
Cash at the beginning of the year		Answer
Cash at the end of the year		Answer