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

Additional Information: 1. Equipment During 2020, equipment was sold for a gain of $6,300. The cash proceeds from the sale totaled $58,300. 2. Retained Earnings Joe's Fish Hut declared and paid $9,000 in dividends in 2020.

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 Balance Sheet As at March 31 2020 2019 ASSETS Current Assets Cash Accounts receivable Merchandise Inventory Total Current Assets $172,366 $54,800 $19,400 $14,500 $24,100 $28,900 $215,866 $98,200 $139,000 $191,000 $-25,700 $-22,100 $329,166 $267,100 Equipment(1) Less: Accumulated depreciation TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $26,700 $42,600 Notes payable-current portion $9,600 $9,600 Total Current Liabilities $36,300 $52,200 Notes payable-long-term portion $89,000 $43,000 TOTAL LIABILITIES $125,300 $95,200 Shareholders' Equity Common shares $81,000 $52,800 Retained earnings(2) $122,866 $119,100 TOTAL SHAREHOLDERS' EQUITY $203,866 $171,900 TOTAL LIABILITIES AND EQUITY $329,166 $267,100 Joe's Fish Hut Income Statement For the Year Ended March 31, 2020 Sales $121,000 COGS $78,650 Gross Profit $42,350 Operating Expenses Depreciation Expense $3,600 Other operating expenses $25,410 Total Operating Expenses $29,010 Operating Income $13,340 Other Income Gain on Sale of Equipment Net Income Before Tax $6,300 $19,640 $6,874 $12,766 Income Tax Net Income Joe's Fish Hut Cash Flow Statement For the Year Ended March 31, 2020 Cash Flow from Operating Activities Net Income Depreciation Gain on sale of equipment Change in Operating Assets and Liabilities Change in Accounts Receivable Change in Merchandise Inventory Change in Accounts Payable Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Sale of equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issue of common shares Receipt of notes payable Payment of cash dividend Net Cash Provided (Used) by Financing Activities Net increase (decrease) in cash Cash at the beginning of the year Cash at the end of the year