The comparative balance sheet of Caterpillar Company at March 31, 19X7, reported the following:

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Prepare Caterpillar's statement of cash flows for the year ended March 31, 19X7, using the indirect method to report cash flows from operating activities. Report noncash investing and financing activities in an accompanying schedule. All current account balances resulted from operating transactions.

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March 31, 19X7 19X6 Current assets: Cash and cash equivalents. Accounts receivable $13,600 $ 4,000 14,900 21,700 Inventories. 63,200 60,600 Prepaid expenses. 1,900 1,700 Current liabilities: Notes payable (for inventory purchases).. $ 4,000 $ 4,000 Accounts payable. 30,300 27,600 Accrued liabilities..... 10,700 11,100 Income tax payable 8,000 4,700 Acquisition of land by Caterpillar's transactions during the year ended March 31, 19X7, included the following: Sale of long-term issuing note payable. Amortization expense. Payment of cash dividend.. Cash acquisition of equipment.. Issuance of long-term note payable to borrow cash. $76,000 investment..... $13,700 2,000 Depreciation expense. 9,000 30,000 Cash acquisition of building. 47,000 Net income 70,000 78,700 Issuance of common stock for cash....... 11,000 50,000 Stock dividend. 18,000