The cash flows below were extracted from the accounts of Miss Mary Mac, a music shop owner.
$
Repayment of Loan .........................50,000
Sale of property ..............................50,000
Interest received ............................. 2,000
Payments to employees ..................... 100,000
Receipts from customers ................... 350,000
Expenses paid............................... 30,000
Computer equipment purchase ............ 30,000
Interest paid .................................. 1,000
Payments to suppliers...................... 200,000
Income taxes paid ........................... 4,000
Beginning cash balance ...................10,000
Prepare a statement of cash flows using the direct method.