The following information is for Edgewood Inc. for the year ended December 31, 2021. Edgewood had a balance for cash and cash equivalents of $5,200 on January 1, 2021.

Cash received from:

Customers $ 1,900

Interest on investments 200

Sale of land 100

Issuance of common stock 600

Issuance of debt securities 2,000

Cash paid for:

Interest on debt $ 300

Income tax 80

Debt principal reduction 1,500

Purchase of equipment 4,100

Purchase of inventory 1,000

Dividends on common stock 200

Operating expenses 500

Required: Prepare a statement of cash flows for the year using the direct method for operating activities. Make sure you have proper headings, columns, subtotals and totals.