The balance sheet and income statement for Vespa Company are presented below.

Vespa Company Balance Sheet As at December 31
	2016	2015
Assets
Current Assets
Cash	$141,345	$79,100
Accounts Receivable	$45,800	$28,100
Inventory	$71,700	$43,400
Total Current Assets	$258,845	$150,600
Property, Plant and Equipment
Land	$93,000	$101,000
Equipment	$98,000	$130,000
Less: Accumulated Depreciation	$-55,000	$-70,000
Total Assets	$394,845	$311,600
Liabilities and Equity
Liabilities
Current Liabilities
Accounts Payable	$37,300	$67,800
Current Portion of Bank Loan	$28,300	$28,300
Total Current Liabilities	$65,600	$96,100
Non-Current Portion of Bank Loan	$131,400	$85,600
Total Liabilities	$197,000	$181,700
Shareholders' Equity
Common Shares	$71,500	$61,500
Retained Earnings	$126,345	$68,400
Total Shareholders' Equity	$197,845	$129,900
Total Liabilities and Equity	$394,845	$311,600

Notes: The company paid cash dividends during 2016.

The company did not make a bank loan payment during 2016.

The company did not purchase any equipment during 2016.

The company did not purchase any land during 2016.

Vespa Company Income Statement For the Year Ended December 31, 2016
Sales	$413,000
Cost of Goods Sold	$268,450
Gross Profit	$144,550
Operating Expenses
Depreciation Expense	$7,000
Other Operating Expenses	$27,900
Total Operating Expenses	$34,900
Operating Income	$109,650
Other Revenue
Loss on Sale of Equipment	$-6,900
Gain on Sale of Land	$5,600
Operating Income before Tax	$108,350
Income Tax	$32,505
Net Income (Loss)	$75,845

Prepare the cash flow statement for December 31, 2016 using the indirect method.

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

Vespa Company Cash Flow Statement For the Year Ended December 31, 2016
Cash Flow from Operating Activities
Net Income	Answer
Add: Depreciation Expense	Answer
Add: Loss on Sale of Equipment	Answer
Less: Gain on Sale of Land	Answer
Changes in Current Assets and Current Liabilities
Increase in Accounts Receivable	Answer
Increase in Inventory	Answer
Decrease in Accounts Payable	Answer
Change in Cash Due to Operating Activities		Answer
Cash Flow from Investing Activities
Sale of Equipment	Answer
Sale of Land	Answer
Change in Cash Due to Investing Activities		Answer
Cash Flow from Financing Activities
Proceeds from Issuance of Common Shares	Answer
Receipt of Bank Loan	Answer
Payment of Dividends	Answer
Change in Cash Due to 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