The following is a comparative SFP position and income statement for Splish Corporation:

Splish Corporation Statement of Financial Position As at September 30
Assets			2020			2019
	Cash		94,900			128,500
	Accounts receivable		106,000			81,100
	Inventory		110,700			227,100
	Prepaid operating expenses		26,350			19,850
	Long term investments		251,500			122,900
	Equipment		1,419,250			1,321,250
	Less: Accumulated depreciation		(520,000	)		(450,000	)
			1,488,700			1,450,700
Liabilities and Shareholders' Equity
	Accounts payable		74,850			82,850
	Income tax payable		21,500			14,500
	Bonds payable		900,250			950,250
	Common shares		200,700			140,100
	Retained earnings		291,400			263,000
			1,488,700			1,450,700

Splish Corporation Income Statement For the year ended September 30, 2020
Sales revenue		892,800
Cost of goods sold		625,000
Gross profit		267,800
Operating expenses		185,000
Income from operations		82,800
Interest expense		3,000
Gain on disposal of equipment		2,100
Income before income tax		81,900
Income tax expense		32,000
Net income		$49,900

ADDITIONAL INFORMATION:

●		Depreciation expense is included in “operating expenses.” All accounts payable transactions were related to the purchase of inventory.
●		During the year, a piece of equipment that originally cost $100,000 was sold for cash. The equipment was 60% depreciated at the time of the sale.
●		Long-term investments were purchased for cash during the year.

Prepare a statement of cash flows, in good form, for Splish Corporation, using the direct method. Splish Corporation follows ASPE.