The following information is available for Singh Corporation for the year ended December 31, 2024: 

Beginning cash balance ..................................................... $ 45,000 

Accounts payable decrease ....................................................3,700 

Accounts receivable increase .................................................8,200 

Cash received for sale of land at carrying amount ...........35,000 

Cash dividends paid .............................................................12,000 

Cash used to purchase building .......................................289,000 

Cash used to purchase short-term investment ................26,000 

Cash received from issuing common shares ..................200,000

Depreciation expense ........................................................162,000 

Income tax payable increase ................................................4,700 

Inventory increase .................................................................11,000 

Profit for the year ................................................................284,100  

Instructions 

Prepare a statement of cash flows using the indirect method. Singh reports using IFRS and does not report dividends as operating activities