The statement of income and unclassified statement of financial position for Sunland, Inc. follow:

SUNLAND, INC. Statement of Financial Position December 31
Assets		2021			2020
Cash		$98,400			$47,600
Trading investments		130,000			116,000
Accounts receivable		71,000			41,400
Inventory		121,300			91,950
Estimated inventory returns		2,300			1,700
Prepaid expenses		18,000			28,600
Equipment		309,000			282,000
Accumulated depreciation		(45,500	)		(53,300	)
Total assets		$704,500			$555,950
Liabilities and Shareholders Equity
Accounts payable		$96,000			$77,500
Property tax payable		9,700			7,100
Refund liability		1,100			700
Bank loan payablecurrent portion		90,000			107,450
Bank loan payablenoncurrent portion		63,700			63,700
Common shares		200,000			180,000
Retained earnings		244,000			119,500
Total liabilities and shareholders equity		$704,500			$555,950

SUNLAND, INC. Statement of Income Year Ended December 31, 2021
Sales					$536,550
Cost of goods sold					188,850
Gross profit					347,700
Operating expenses					116,440
Income from operations					231,260
Other income and expenses
Unrealized gain on trading investments		$14,000
Interest expense		(4,770	)		9,230
Income before income tax					240,490
Income tax expense					44,000
Net income					$196,490

Additional information regarding 2021:

1.		Prepaid expenses and property tax payable relate to operating expenses.
2.		New equipment costing $86,000 was purchased for $20,200 cash and a $65,800 long-term bank loan payable.
3.		Old equipment having an original cost of $59,000 was sold for $1,000.
4.		Accounts payable relate to inventory suppliers.
5.		Some of the bank loan was repaid during the year.
6.		A dividend was paid during the year.
7.		Operating expenses include $47,000 of depreciation expense and a $3,200 loss on disposal of equipment.
8.		Common shares were issued for $42,000 cash during the year and some common shares were bought back and retired at the cost they were originally issued at.

(a) Prepare the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)