Please answer in proper format with all working clearly

Please use commas and dollar sign in figures

AG Network Inc.'s balance sheet and income statement are as follows: LAG Network Inc. Income Statement For Year Ended December 31, 2020 Sales $ 935, 600 Cost of goods sold 563,200 Gross profit $ 372, 400 Operating expenses: Depreciation expense $ 25, 200 Other expenses 239 , 800 Total operating expenses 265,000 Profit from operations $ 107, 400 Income taxes 25, 600 Profit $ 81, 800 LAG Network Inc. Comparative Balance Sheet Information December 31 Assets 2020 2019 Cash $ 81, 260 55, 800 Accounts receivable 49 ,400 39,000 Merchandise inventory 281, 140 257, 600 Equipment 161, 400 139, 800 Accumulated depreciation (78, 800) (53, 600) Total assets $ 494, 400 $ 438, 600 Liabilities and Equity Accounts payable $ 38,200 $ 50, 800 Income taxes payable 18 , 600 17,200 Common shares 370,000 327,000 Retained earnings 67 , 600 43, 600 Total liabilities and equity $ 494, 400 $ 438, 600Additional information regarding LAG Network lnc.'s activities during 2020: a. Equipment Is purchased for $21,600 cash. b.17.200 common shares are issued for cash at $2.50 per share. :3. Declared and paid $57,800 of cash dividends during the yea r. Other information regarding LAG Network inc; a. All sales are credit sales. b. All credits to accounts receivable are receipts from customers. c. All purchases of merchandise are on credit. d. All debits to accounts payable result from payments for merchandise. e. Other operating expenses are cash expenses. f. The only decrease in income taxes payable is for payment of taxes. Required: Prepare a statement of cash flows for 2020 using the direct method to report c inflows and outflows from operating activities. (List an}:I deduction in cash and outflows as negative amounts.) \f