The financial statements of Cullumber Ltd., a private company reporting under ASPE, follow:

CULLUMBER LTD. Balance Sheet December 31
Assets		2021			2020
Cash		$5,726			$8,900
Short-term notes receivable		11,800			21,100
Accounts receivable		26,400			12,400
Inventory		27,900			23,400
Property, plant, and equipment		70,200			75,400
Accumulated depreciation		(28,400	)		(22,900	)
Total assets		$113,626			$118,300
Liabilities and Shareholders Equity
Accounts payable		$23,400			$41,700
Income tax payable		2,200			18,200
Notes payable		11,700			8,700
Common shares		22,700			22,700
Retained earnings		53,626			27,000
Total liabilities and shareholders equity		$113,626			$118,300

CULLUMBER LTD. Income Statement Year Ended December 31, 2021
Sales					$280,400
Cost of goods sold					191,200
Gross profit					89,200
Operating expenses		$35,600
Loss on sale of equipment		1,600			37,200
Profit from operations					52,000
Other revenues and expenses
Interest revenue		$(780	)
Interest expense		1,600			820
Profit before income tax					51,180
Income tax expense					15,354
Profit					$35,826

Additional information:
1.		Short-term notes receivable are loans to other companies. During the year, the company collected the outstanding balance at December 31, 2020, and made new loans in the amount of $11,800.
2.		Equipment was sold during the year. This equipment cost $13,900 originally and had a carrying amount of $7,300 at the time of sale.
3.		Equipment costing $8,700 was purchased in exchange for a $8,700 note payable.
4.		Depreciation expense is included in operating expenses.
5.		Accounts receivable are from the sale of merchandise on credit.
6.		Accounts payable relate to the purchase of merchandise on credit.

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

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

CULLUMBER LTD. Cash Flow StatementIndirect Method December 31, 2021Month Ended December 31, 2021Year Ended December 31, 2021
				$
Adjustments to reconcile profit to
		$
		$
		$
				$