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

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

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2015 2014 Current Assets: Cash Accounts Receivable Merchandise Inventory 106,100 64,300 80,000 26,000 68,900 75,000 Current Liabilities: Accounts Payable Income Tax Payable S 57,700 14,500 56,100 17,000 Transaction Data for 2015: Issuance of common stock for cash Depreciation expense Purdhase of equipment with cash Acquisition of land by issuing long-term note payable Book value of building sold 45,000Payment of notes payable 18,000 Payment of cash dividends 70,000 46,100 52,000 68,000 3,500 68,500 Issuance of note payable to borrow cash Gain on sale of building ,000 50,000Net income