Ivanhoe Ltd., which follows ASPE had the following comparative statement of financial position:

Ivanhoe Ltd. Comparative Statement of Financial Position December 31
Assets			2021				2020
Cash			$	85,280			$	52,000
Accounts receivable				141,440				106,080
Inventory				83,200				124,800
Prepaid insurance				10,400				8,320
Equipment				320,320				270,400
Accumulated depreciation-equipment				(72,800	)			(52,000	)
Patents				83,200				104,000
	Total assets		$	651,040			$	613,600
Liabilities and Shareholders Equity
Accounts payable			$	95,680			$	83,200
Interest payable				8,320				12,480
Salaries and wages payable				16,640				8,320
Income taxes payable				16,640				20,800
Long-term note payable				124,800				143,520
Common shares				270,400				270,400
Retained earnings				118,560				74,880
	Total liabilities and shareholders equity		$	651,040			$	613,600

Additional information:

1.		Net income for the fiscal year was $56,160.
2.		Equipment that cost $41,600 and was 70% depreciated was sold during 2021, for a gain of $4,160.
3.		No patents were purchased or sold during the fiscal year.

Prepare the statement of cash flows using the indirect format. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Ivanhoe Ltd. Statement of Cash Flows For the Year Ended December 31, 2021For the Month Ended December 31, 2021December 31, 2021
Cash Flows from Investing ActivitiesNet Cash Used by Financing ActivitiesNet Increase in CashNet Cash Provided by Financing ActivitiesNet Decrease in CashNet Cash Used by Operating ActivitiesCash Flows from Financing ActivitiesNet Cash Used by Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Investing ActivitiesCash at End of YearNet Cash Provided by Operating ActivitiesCash at Beginning of Year
Cash DividendsDecrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Income Taxes PayableDecrease in InventoryDecrease in Interest PayableDecrease in Prepaid InsuranceDecrease in Salaries and Wages PayableDepreciation ExpenseGain on Disposal of EquipmentIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Income Taxes PayableIncrease in InventoryIncrease in Interest PayableIncrease in Prepaid InsuranceIncrease in Salaries and Wages PayableLoss on Disposal of EquipmentNet Income / (Loss)Patent Amortization ExpensePurchase EquipmentProceeds from Disposal of EquipmentRepayments Notes PayableBorrowings on Notes Payable				$
Adjustments to reconcile net income to net cash provided by operating activities:
Cash DividendsDecrease in Accounts PayableDecrease in Accounts ReceivableDecrease in Income Taxes PayableDecrease in InventoryDecrease in Interest PayableDecrease in Prepaid InsuranceDecrease in Salaries and Wages PayableDepreciation ExpenseGain on Disposal of EquipmentIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Income Taxes PayableIncrease in InventoryIncrease in Interest PayableIncrease in Prepaid InsuranceIncrease in Salaries and Wages PayableLoss on Disposal of EquipmentNet Income / (Loss)Patent Amortization ExpensePurchase EquipmentProceeds from Disposal of EquipmentRepayments Notes PayableBorrowings on Notes Payable		$