Question: the company follows aspe pharoah ltd had the following comparative...

The company follows ASPE. Pharoah Ltd. had the following comparative statement of financial position:

Pharoah Ltd. Comparative Statement of Financial Position As at December 31
Assets			2018				2017
Cash			$	88,560			$	54,000
Accounts receivable				146,880				110,160
Inventories				86,400				129,600
Prepaid insurance				10,800				8,640
Equipment				332,640				295,920
Accumulated depreciation—equipment				(75,600	)			(54,000	)
	Total assets		$	589,680			$	544,320
Liabilities and Shareholders’ Equity
Accounts payable			$	92,880			$	77,760
Salaries & Wages payable				12,960				8,640
Income taxes payable				17,280				19,440
Mortgage payable				118,800				133,920
Common shares				237,600				226,800
Retained earnings				110,160				77,760
	Total liabilities and shareholders’ equity		$	589,680			$	544,320

Additional information:

•		Net income was $58,968.
•		New equipment was purchased and none was sold.
•		Common shares were issued for cash.
•		Cash dividends were paid to common shareholders.

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).)