The comparative statement of financial position of Flounder Corporation as at December 31, 2020, follows:

FLOUNDER CORPORATION Statement of Financial Position December 31
		December 31
Assets		2020			2019
Cash		$	52,500		$	9,500
Accounts receivable			89,800			88,700
Equipment			27,900			22,900
Less: Accumulated depreciation			(10,500	)		(10,300	)
Total		$	159,700		$	110,800
Liabilities and Shareholders Equity
Accounts payable		$	19,500		$	14,100
Common shares			100,000			80,500
Retained earnings			40,200			16,200
Total		$	159,700		$	110,800

Net income of $36,900 was reported and dividends of $12,900 were declared and paid in 2020. New equipment was purchased, and equipment with a carrying value of $4,900 (cost of $11,700 and accumulated depreciation of $6,800) was sold for $7,900. Prepare a statement of cash flows using the indirect method for cash flows from operating activities. Assume that Flounder prepares financial statements in accordance with ASPE. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

FLOUNDER CORPORATION Statement of Cash Flows Adjustments to reconcile net income to net cash provided by operating activities: >