Seaman-Young Corporation's comparative balance sheet at September 30, 19X4, included the following balances:

Transaction data for the year ended September 30, 19X4:

a. Net income, \(\$ 93,900\).

b. Depreciation expense on equipment, \(\$ 8,500\).

c. Acquired long-term investments, \(\$ 37,300\).

d. Sold land for \(\$ 38,100\), including \(\$ 10,900\) gain.

e. Acquired equipment by issuing long-term note payable, \(\$ 26,300\).

f. Paid long-term note payable, \(\$ 24,700\).
g. Received cash of \(\$ 51,900\) for issuance of common stock.
h. Paid cash dividends, \(\$ 64,300\).
i. Acquired equipment by issuing short-term note payable, \(\$ 22,000\).
\section*{Required}
1. Prepare Seaman-Young's statement of cash flows for the year ended September 30, 19X4, using the indirect method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities. All current accounts except short-term notes payable result from operating transactions.
2. Prepare a supplementary schedule showing cash flows from operations by the direct method. The income statement reports the following: sales, \(\$ 370,600\); gain on sale of land, \(\$ 10,900\); interest revenue, \(\$ 7,300\); cost of goods sold, \(\$ 161,500\); salary expense, \(\$ 63,400\); other operating expenses, \(\$ 29,600\); income tax expense, \(\$ 18,400\); interest expense, \(\$ 13,500\); depreciation expense, \(\$ 8,500\).

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SEAMAN-YOUNG CORPORATION BALANCE SHEET SEPTEMBER 30, 19X4 AND 19X3 19X4 19X3 Increase (Decrease) Current assets: Cash.. $ 48,700 $ 17,600 $ 31,100 Accounts receivable.. 41,900 44,000 (2,100) Interest receivable.. 4,100 2,800 1,300 Inventories 121,700 116,900 4,800. Prepaid expenses 8,600 9,300 (700) Long-term investments 51,100 13,800 37,300 Equipment, net. 131,900 92,100 Land 47,100 74,300 39,800 (27,200) $455,100 $370,800 $ 84,300 Current liabilities: Notes payable, short-term. $ 22,000 $ -0- $ 22,000 Accounts payable... 61,800 70,300 (8,500) Income tax payable... Accrued liabilities.. 21,800 24,600 (2,800) 17,900 29,100 (11,200) Interest payable. 4,500 3,200 1,300 Salary payable... 1,500 1,100 400 Long-term note payable. 123,000 121,400 1,600 Common stock.. 113,900 62,000 51,900 Retained earnings. 88,700 59,100 29,600 $455,100 $370,800 $ 84,300