The following financial statements and additional information are reported.

IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018
	2019				2018
Assets
Cash	$	83,300			$	51,000
Accounts receivable, net		75,500				58,000
Inventory		70,800				97,000
Prepaid expenses		5,100				6,800
Total current assets		234,700				212,800
Equipment		131,000				122,000
Accum. depreciationEquipment		(30,500	)			(12,500	)
Total assets	$	335,200			$	322,300
Liabilities and Equity
Accounts payable	$	32,000			$	40,500
Wages payable		6,700				16,400
Income taxes payable		4,100				5,200
Total current liabilities		42,800				62,100
Notes payable (long term)		31,400				67,000
Total liabilities		74,200				129,100
Equity
Common stock, $5 par value		234,000				167,000
Retained earnings		27,000				26,200
Total liabilities and equity	$	335,200			$	322,300

IKIBAN INC. Income Statement For Year Ended June 30, 2019
Sales				$	713,000
Cost of goods sold					418,000
Gross profit					295,000
Operating expenses
Depreciation expense	$	65,600
Other expenses		74,000
Total operating expenses					139,600
					155,400
Other gains (losses)
Gain on sale of equipment					2,700
Income before taxes					158,100
Income taxes expense					44,590
Net income				$	113,510

Additional Information

1. A $35,600 note payable is retired at its $35,600 carrying (book) value in exchange for cash.
2. The only changes affecting retained earnings are net income and cash dividends paid.
3. New equipment is acquired for $64,600 cash.
4. Received cash for the sale of equipment that had cost $55,600, yielding a $2,700 gain.
5. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
6. All purchases and sales of inventory are on credit.

Using the direct method, prepare the statement of cash flows for the year ended June 30, 2019. (Amounts to be deducted should be indicated with a minus sign.)