Accountants for Johnson, Inc. have assembled the following data for the year ended December 31, 2015:

Prepare Johnson’s statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financingactivities.

Transcribed Image Text:

2015 2014 Current Assets: Cash Accounts Receivable Merchandise inventony 92,100 64,500 87,000 $ 17,000 69,200 80,000 Current Liabilities Accounts Payable Income Tax Payable 57,900 14,400 56,200 17,100 Transaction Data for 2015: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term note payable Book value of building sold 40,000 Payment of notes payable 25,000 Payment of cash dividends 48,100 54,000 75,000 Issuance of note payable to borrow cash 67,000 5,500 70,500 122,000 Gain on sale of building 53,000Net income