Ethan Allen Furniture Gallery, Inc., provided the following data from the company's records for the year ended April 30, 20X7:

a. Credit sales, $583,900 n. Payments to suppliers, $368,500

b. Loan to another company, $12,500 o. Cash sales, $171,900

c. Cash payments to purchase plant p. Depreciation expense, $59,900 assets, $59,400 q. Proceeds from issuance of note payable,

d. Cost of goods sold, $382,600 $19,600

e. Proceeds from issuance of common r. Payments of long-term notes payable, stock, $8,000 $50,000

f. Payment of cash dividends, $48,400 s. Interest expense and payments, $13,300

g. Collection of interest, $4,400 t. Salary expense, $95,300

h. Acquisition of equipment by issuing u. Loan collections, $12,800 short-term note payable, $16,400 v. Proceeds from sale of investments,

i. Payments of salaries, $93,600 $9,100, including $2,000 gain

j. Proceeds from sale of plant assets, w. Payment of short-term note payable by

$22,400, including $6,800 loss issuing long-term note payable, $63,000

k. Collections on accounts receivable, x. Amortization expense, $2,900

$428,600 y. Income tax expense and payments,

l. Interest revenue, $3,800 $37,900 m. Cash receipt of dividend revenue, z. Cash balance: April 30, 20X6, $39,300; $4,100 April 30, 20X7, $36,600

Required

1. Prepare Ethan Allen Furniture Gallery, Inc.'s, statement of cash flows for the year ended April 30, 20X7. Use the direct method for cash flows from operating activities. Follow the format of Exhibit 12-13 (p. 642), but do not show amounts in thousands. Include an accompanying schedule of noncash investing and financing activities.