Additional data: 1. Depreciation expense was $16,000. 2. Dividends declared and paid were $21,780. 3. During the year equipment was sold for $8,800 cash. This equipment cost $18,400 originally and had accumulated depreciation of $9,600 at the time of sale. Further analysis reveals the following. 1. Accounts payable pertain to merchandise suppliers. 2. All operating expenses except for depreciation were paid in cash. 3. All depreciation expense is in the selling expense category. 4. All sales and purchases are on account. (a) Prepare a statement of cash flows for Pina Colada Company using the direct method. (Show amounts that decrease cash flow either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)