The comparative balance sheet of Flack Inc. for December 31, 2013 and 2012, is shown as follows:

Assets Dec. 31, 2013 Dec. 31, 2012

cash 234,660 219,720

accounts receivable(net) 85,440 78,360

inventories 240,660 231,420

investments 0 90,000

land 123,000 0

equipment 264,420 207,420

accumulated depreciation-equipment (62,400) (55,500)

$885,780 $771,420

Liabilities and stockholders equity

accounts payable(merchandise creditors) 159,180 151,860

accrued expense payable(operating expense) 15,840 19,740

dividends payable 9000 7,200

common stock, $1 par 48,000 36000

pain in Capital in excess of par-common stock 180,000 105,000

retained earnings 473,760 451,620

$885,780 $771,420

The following additional information was taken from the records:

The investments were sold for $105,000 cash.

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The common stock was issued for cash.

There was a $58,140 credit to Retained Earnings for net income.

There was a $36,000 debit to Retained Earnings for cash dividends declared

Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities . Use the minus sign to indicate cash outflows, negative amounts or a decrease in cash.

please make sure its using the direct and not the inderect method.