The following financial statements and information relate to GHU Inc.

GHI Inc.

Balance Sheet

as at December 31

	20x2	20x1
Assets
Cash	$ 9,000	$ 11,000
Accounts receivable	50,000	42,700
Inventory	15,000	21,000
Prepaid rent	2,500	2,300
Property, plant and equipment	900,000	920,000
Accumulated depreciation	(233,000)	(225,000)
	$743,500	$772,000
Liabilities and Shareholders Equity
Accounts payable	$ 22,900	$ 25,100
Salaries payable	1,600	1,180
Bank loan payable	66,000	146,000
Common stock	80,000	80,000
Retained earnings	573,000	519,720
	$743,500	$772,000
GHI Inc. Statement of Income For the year ended December 31, 20x2
Revenue		$600,000
Cost of goods sold		195,000
Gross margin		405,000
Operating expenses
Salaries	$90,000
Depreciation	60,000
Other	182,370	332,370
Operating income		72,630
Interest expense	3,350
Loss on sale of equipment	3,000	6,350
Net income		$ 66,280

The company sold excess equipment with an original cost of $60,000.

Required -

Prepare a statement of cash flows for the year ended December 31, 20x2. Show your supporting calculations.