The company follows ASPE. Pharoah Ltd. had the following comparative statement of financial position:

Pharoah Ltd. Comparative Statement of Financial Position As at December 31
Assets			2018				2017
Cash			$	88,560			$	54,000
Accounts receivable				146,880				110,160
Inventories				86,400				129,600
Prepaid insurance				10,800				8,640
Equipment				332,640				295,920
Accumulated depreciationequipment				(75,600	)			(54,000	)
	Total assets		$	589,680			$	544,320
Liabilities and Shareholders Equity
Accounts payable			$	92,880			$	77,760
Salaries & Wages payable				12,960				8,640
Income taxes payable				17,280				19,440
Mortgage payable				118,800				133,920
Common shares				237,600				226,800
Retained earnings				110,160				77,760
	Total liabilities and shareholders equity		$	589,680			$	544,320

Additional information:

		Net income was $58,968.
		New equipment was purchased and none was sold.
		Common shares were issued for cash.
		Cash dividends were paid to common shareholders.

Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)