NavStar Corporation accountants have assembled the following data for the year ended December 31, 19X7:

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Prepare NavStar Corporation's statement of cash flows, using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financing activities.
Preparing the statement of cash flows-indirect method (Obj. 2, 5)

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Current accounts (all result from operations): December 31, 19X7 19X6 Current assets: Cash and cash equivalents.... $55,700 $22,700 Accounts receivable.. 69,700 64,200 Inventorics. 88,600 83,000 Prepaid expenses. 5,300 4,100 Current liabilities: Notes payable (for inventory purchases).. $22,600 $18,300 Accounts payable. 52,900 55,800 Income tax payable.. 18,600 16,700 Accrued liabilities... 15,500 27,200 Transaction data for 19X7: Acquisition of land by issuing long-term note payable..... Purchase of treasury stock. $14,300 Loss on sale of equipment. 11,700 $107,000 Payment of cash Stock dividends. 31,800 dividends........ 18,300 Collection of loan 8,700 Issuance of long-term Depreciation expense.. 26,800 note payable to borrow Acquisition of building. 125,300 cash.... 34,400 Retirement of bonds Net income.. 57,100 payable by issuing Issuance of common stock common stock Acquisition of long-term investment.... 65,000 for cash... 41,200 Sale of equipment.. 58,000 31,600 Amortization expense. 5,300