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Condensed financial data of Shamrock, Inc. follow.

Shamrock, Inc. Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$ 161,600			$ 96,800
Accounts receivable		175,600			76,000
Inventory		225,000			205,700
Prepaid expenses		56,800			52,000
Long-term investments		276,000			218,000
Plant assets		570,000			485,000
Accumulated depreciation		(100,000	)		(104,000	)
Total		$1,365,000			$1,029,500
Liabilities and Stockholders Equity
Accounts payable		$ 204,000			$ 134,600
Accrued expenses payable		33,000			42,000
Bonds payable		220,000			292,000
Common stock		440,000			350,000
Retained earnings		468,000			210,900
Total		$1,365,000			$1,029,500

Shamrock, Inc. Income Statement Data For the Year Ended December 31, 2022
Sales revenue				$776,920
Less:
Cost of goods sold		$270,920
Operating expenses, excluding depreciation		24,820
Depreciation expense		93,000
Income tax expense		54,560
Interest expense		9,460
Loss on disposal of plant assets		15,000		467,760
Net income				$ 309,160

Additional information:

1.		New plant assets costing $200,000 were purchased for cash during the year.
2.		Old plant assets having an original cost of $115,000 and accumulated depreciation of $97,000 were sold for $3,000 cash.
3.		Bonds payable matured and were paid off at face value for cash.
4.		A cash dividend of $52,060 was declared and paid during the year.

Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Shamrock, Inc. using the direct method.

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