Comparative statements of financial position as at 31 December 2017 and 2016 and the income statement for 2017 for W. Yu are set out below.

	W. YU Comparative Statements of Financial Position as at 31 December
				2017		2016
	assets Cash on hand and at bank Accounts receivable Inventory Plant and equipment Accumulated depreciation – plant and equipment			$111 600 161 400 196 200 408 000 (180 000)		$134 400 151 200 208 800 300 000 (162 000)
				$697 200		$632 400
	LIABILITIES AND EQUITY Accounts payable Expenses payable Long-term loan payable W. Yu, Capital			$140 400 77 400 60 000 419 400		$132 600 83 400 — 416400
				$697 200		$632 400

	W. YU Income Statement for the year ended 31 December 2017
	Sales Less: Cost of sales								$592 200 350 000
	GROSS PROFIT Less: Expenses (Including depreciation)								242 200 209 200
	PROFIT								$  33 000

No plant and equipment was sold during the year. W. Yu withdrew $30 000 in cash during the year.

Required

Prepare a statement of cash flows for the year ended 31 December 2017 in accordance with the direct method.