The following summary transactions occurred during 2018 for Bluebonnet Bakers:

Cash Received from:

Customers........................................................................................$ 380,000

Interest on note receivable....................................................................6,000

Principal on note receivable..................................................................50,000

Sale of investment.................................................................................30,000

Proceeds from note payable...............................................................100,000

Cash Paid for:

Purchase of inventory.......................................................................160,000

Interest on note payable.......................................................................5,000

Purchase of equipment.......................................................................85,000

Salaries to employees...........................................................................90,000

Principal on note payable....................................................................25,000

Payment of dividends to shareholders........................................................20,000

The balance of cash and cash equivalents at the beginning of 2018 was $17,000.

Required:

Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities.