Please complete the direct method - cash flow statement

decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) PHAROAH LTD. Cash Flow Statement (Partial) - Direct Method Year Ended December 31, 2021 Operating Activities Cash Receipts from Customers $ 461,500 Cash Payments To Suppliers (207,650) For Operating Expenses For Interest For Income Tax Net Cash Provided by Operating Activities Additional information: 1. New equipment costing $81,500 was purchased for $31,800 cash and a $49,700 note payable. 2. Equipment with an original cost of $58,600 was sold at a loss of $7,050. 3. Notes payable matured during the year and were repaid. 4. A long-term investment was acquired for cash. 5. Accounts payable relate only to merchandise creditors. 6. Accrued expenses payable and prepaid expenses relate to operating expenses. PHAROAH LTD. Income Statement Year Ended December 31, 2021 Sales $492,800 Cost of goods sold 186,300 Gross profit 306,500 Operating expenses $57,000 Depreciation expense 45,700 Loss on sale of equipment 7,050 109,750 Profit from operations 196,750 Other expenses Interest expense 4,910 Profit before income tax 191,840 Income tax expense 44,000 Profit $147,840 PHAROAH LTD. Balance Sheet December 31 Assets 2021 2020 Cash $107,060 $46,500 Accounts receivable 74,900 43,600 Inventory 128,100 93,250 Prepaid expenses 37,600 28,400 Long-term investments 130,000 116,000 Property, plant, and equipment 266,400 243,500 Accumulated depreciation (46,900) (52,600) Total assets $697,160 $518,650 Liabilities and Shareholders' Equity Accounts payable $92,100 $78,600 Accrued expenses payable 12,700 7,200 Notes payable 120,900 158,700 Common shares 245,400 183,300 Retained earnings 226,060 90,850 Total liabilities and shareholders' equity $697,160 $518,650