The accounting records of Flypaper Airlines Inc. reveal the following transactions and events for the year ended March 31, 2017:

Additional information:
Flypaper Airlines' cash on April 1, 2016, was $35,000.
Instructions
Assuming Flypaper reports under ASPE, prepare a cash flow statement using the direct method.

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Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit S 8,000 Common shares issued in exchange for land 53,000 14,000 7,500 38,000 110,000 174,000 201,000 Payment of salaries Depreciation expense Proceeds from sale of aircraft Purchase of equipment for cash Loss on sale of aircraft Payment of dividends Payment of operating expenses 35,000 51,000 16,000 212,000 22,000 3,000 14,000 28,000 Payment of accounts payable Payment for land Collection of accounts receivable