The following items were gathered from Daniels Distributing’s general ledger:

Purchase of marketable securities......... $200,000

Depreciation and amortization expense....... . 31,980

Declaration of preferred dividends......... 8,000

Decrease in Prepaid Assets............ 3,700

Gain on sale of equipment............. 5,200

Net income................... 429,800

Beginning Cash balance.............. 43,740

Proceeds from loan................ 125,000

Payment for purchase of equipment........ 80,925

Increase in Accounts Receivable.......... 16,760

Stock-based compensation ............. 180,000

Proceeds from issuing common stock......... 25,000

Increase in Inventory ................ 14,863

Decrease in Accounts Payable........... 13,900

Ending Cash balance .............. 507,572

Required

Using the indirect method, construct Daniels Distributing’s statement of cash flows.