Windsor Company, a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The comparative balance sheet and income statement for Windsor as of May 31, 2020, are as follows. The company is preparing its statement of cash flows.

The following is additional information concerning Windsors transactions during the year ended May 31, 2020.

1.		All sales during the year were made on account.
2.		All merchandise was purchased on account, comprising the total accounts payable account.
3.		Plant assets costing $97,000 were purchased by paying $26,000 in cash and issuing 7,100 shares of stock.
4.		The other expenses are related to prepaid items.
5.		All income taxes incurred during the year were paid during the year.
6.		In order to supplement its cash, Windsor issued 1,900 shares of common stock at par value.
7.		Cash dividends of $105,900 were declared and paid at the end of the fiscal year Prepare a statement of cash flows for Windsor Company for the year ended May 31, 2020, using the direct method. (A reconciliation of net income to net cash provided is not required.) (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

WINDSOR COMPANY COMPARATIVE BALANCE SHEET AS OF MAY 31 2020 2019 Current assets Cash $19,900 $28,400 75,200 58,200 219,100 Accounts receivable Inventory Prepaid expenses Total current assets 248,900 7,100 9,000 331,700 334,100 Plant assets 595,400 498,400 125,400 149,000 Plant assets Less: Accumulated depreciation-plant assets Net plant assets Total assets 446,400 373,000 $778,100 $707,100 Current liabilities Accounts payable Salaries and wages payable Interest payable Total current liabilities $121,700 $115,700 46,900 72,800 26,900 25,200 195,500 213,700 Long-term debt Bonds payable Total liabilities 70,000 100,000 265,500 313.700 Stockholders' equity Common stock, $10 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 370,000 280,000 142,600 113.400 512,600 393,400 $778,100 $707,100 WINDSOR COMPANY INCOME STATEMENT FOR THE YEAR ENDED MAY 31, 2020 Sales revenue $1,257,000 Cost of goods sold 718,300 Gross profit 538,700 253,400 75,800 23,600 Expenses Salaries and wages expense Interest expense Depreciation expense Other expenses Total expenses Operating income Income tax expense 8,100 360,900 177,800 42,700 $135,100 Net income The following is additional information concerning Windsor's transactions during the year ended May 31, 2020