Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2019:

Rolling Meadows had cash on hand at 1/1/2019 of $8,500.
Required:
1. Prepare a properly formatted statement of cash flows using the indirect method.
2. What can you conclude by examining the patterns in Rolling Meadow's cash flows?

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Net income Decrease in accounts receivable Increase in pro shop inventory Increase in prepaid insurance Increase in accounts payable Decrease in wages payable Increase in income taxes payable Cash paid for new golf carts Cash received from sale of used golf carts Depreciation expense (buildings) Depreciation expense (golf carts) Proceeds from issuance of note payable Payment on mortgage payable Cash received from issuance of common stock Payment of cash dividends $125,800 7,175 23,300 12,600 13,210 $12,700 21,250 60,000 42,000 41,375 40,000 7,400 2,125 85,000