The income statement and additional data of Flashpoint Consulting Ltd. follow:

Additional data:
a. Collections from clients were $114,000 more than revenues.
b. Increase in cash balance, $20,000.
c. Payments to employees are $8,000 less than salaries expense.
d. Interest expense and income tax expense equal their cash amounts.
e. Acquisition of computer equipment is $232,000. Of this amount, $202,000 was paid in cash and $30,000 by signing a long-term note payable.
f. Cash received from sale of land, $20,000.
g. Cash received from issuance of common shares, $84,000.
h. Payment of long-term note payable, $40,000.
i. Payment of cash dividends, $130,000.
j. Payments for rent and insurance were equal to expense.
k. Payment for office supplies was $12,000 more than expense.
Prepare Flashpoint Consulting Ltd.'s cash flow statement by the direct method and the note to the financial statements giving the summary of non-cash investing and financing activities. Evaluate Flashpoint's cash flow for the year. Mention all three categories of cash flows and the reason for your evaluation.

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FLASHPOINT CONSULTING LTD Income Statement For the Year Ended September 30, 2017 Revenues Consulting revenue $548,000 Expenses Salaries expense Amortization expense Rent expense Office supplies expense Insurance expense Interest expense Income tax expense $296,000 58,000 14,000 16,000 4,000 4,000 36,000 428,000 $120,000 Net income