The following transactions occurred during March 2016 for the Wainwright Corporation. The company owns

and operates a wholesale warehouse.

1.	Issued 39,000 shares of capital stock in exchange for $390,000 in cash.
2.	Purchased equipment at a cost of $58,000. $19,000 cash was paid and a note payable was signed for the balance owed.
3.	Purchased inventory on account at a cost of $108,000. The company uses the perpetual inventory system.
4.	Credit sales for the month totaled $129,000. The cost of the goods sold was $79,000.
5.	Paid $5,900 in rent on the warehouse building for the month of March.
6.	Paid $6,900 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2016.
7.	Paid $79,000 on account for the merchandise purchased in 3.
8.	Collected $64,000 from customers on account.
9.	Recorded depreciation expense of $1,900 for the month on the equipment

2.

Prepare a statement of cash flows, using the direct method to present cash flows from operating activities. Assume the cash balance at the beginning of the month was $49,000. (Amounts to be deducted should be indicated with a minus sign.)