Direct Method-pls show calculations

Presented below is the comparative balance sheet for Sheridan Inc., a private company reporting under ASPE, at December 31, 2021, and 2020: 2020 $98,000 75,000 155,500 SHERIDAN INC. Balance Sheet December 31 Assets 2021 Cash $64,800 Accounts receivable 101,000 Inventory 205,000 Long-term investment 101,500 Property, plant, and equipment 535,000 Less: Accumulated depreciation (162,500) $844,800 Liabilities and Shareholders' Equity Accounts payable $57,500 Dividends payable 6,000 Income tax payable 14,000 Long-term notes payable 25,000 Common shares 630,000 Retained earnings 112,300 $844,800 460,000 (140,000) $648,500 $47,000 15,000 525,000 61,500 $648,500 SHERIDAN INC. Income Statement Year Ended December 31, 2021 Sales $660,800 Cost of goods sold 432,000 Gross profit 228,800 Operating expenses $147,500 Loss on sale of equipment 3,000 150,500 Profit from operations 78,300 Interest expense 3,000 Interest revenue (4,500) (1,500) Profit before income tax 79,800 Income tax expense 14,000 Profit $65,800 Additional information: 1. Cash dividends of $15,000 were declared. 2. A long-term investment was acquired for cash at a cost of $101,500. 3. Depreciation expense is included in the operating expenses. 4. The company issued 10,500 common shares for cash on March 2, 2021. The fair value of the shares was $10 per share. The proceeds were used to purchase additional equipment. 5. Equipment that originally cost $30,000 was sold during the year for cash. The equipment had a carrying value of $9,000 at the time of sale. 6. The company issued a note payable for $28,000 and repaid $3,000 by year end. 7. All purchases of inventory are on credit. 8. Accounts Payable is used only to record purchases of inventory. Prepare a cash flow statement for the year using the direct method. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesis eg. (15,000).)