The comparative unclassified statement of financial position for Cullumber Ltd. follows:

Cullumber Ltd.
Statement of Financial Position
December 31
Assets	2024	2023
Cash	49900	21000
Term deposits (maturing in 60 days)	5100	1000
Accounts Receivable	83000	75500
Inventory	170000	176500
Estimated inventory returns	7000	5000
Long-term investments	76000	125000
Equipment	250000	188000
Accumulated depreciation	(75000)	(30000)
Total assets	566000	562000
Liabilities and Shareholders' Equity
Accounts payable	27000	41000
Refund liability	5000	4000
Bank loan payable (non-current)	104000	209000
Common shares	215000	170000
Retained earnings	215000	138000
Total liabilities and shareholders' equity	566000	562000

Additional information pertaining to 2024

1. Net income was $109 000
2. Sales were $984 000
3. Cost of goods sold was $759 000
4. Operating Expenses were $43 000, exclusive of depreciation expense
5. Depreciation expense was $45 000
6. Interest expense was $12 000
7. Income tax expense was $22 000
8. Long-term investments were sold at a gain of $6 000. These investments are carried at their cost, so the gains and losses on these investments are recorded only when the investments are sold
9. No equipment was sold during the year
10. $105 000 of the bank loan was repaid during the year
11. Common shares were issued for $45 000

Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash from with either a - sign e.g. -45 000, or in parenthesis e.g. (45 000).)

CULLUMBER LTD. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Depreciation Expense > +A 45000 GA 109000