To prepare the statement of cash flows, accountants for Dartmouth Electric Company have summarized 2021 activity in two accounts:

Dartmouth Electric’s 2021 income statement and balance sheet data follow: 

Requirements 

1. Prepare the statement of cash flows of Dartmouth Electric for the year ended December 31, 2021, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities.

2. Use Dartmouth Electric’s 2021 income statement and information from its selected balance sheet data to prepare a supplementary schedule of cash flows from operating activities using the indirect method.

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Beginning bal Sale of long-term investment Collections from customers Issuance of common stock Receipts of dividends Ending Bal Cash 90,100 Payments on accounts payable 32,400 Payments of dividends 661,400 Payments of salaries and wages 47,300 Payments of interest 17,000 Purchase of equipment 73,200 Payments of other operating expenses Payment of long-term note payable Purchase of treasury stock Payment of income tax Common Stock Beginning bal Issuance for cash Issuance to acquire land Issuance to retire note payable Ending bal 387,000 62,000 143,500 26,800 31,900 34,300 41,700 28,900 18,900 78,800 47,300 80,000 18,000 224,100