Cash-Flow Reporting. Key transactions, along with other relevant information for Newman Company, include:

(a) Net income was \(\$ 100,000\).

(b) Depreciation expense was \(\$ 25,000\).

(c) Dividends of \(\$ 18,000\) were paid.

(d) 10,000 shares of preferred stock were issued for \(\$ 350,000\) cash.

(e) Land was acquired for \(\$ 20,000\).

(f) Used equipment, which originally cost \(\$ 20,000\), was sold for \(\$ 8,500\) and had \(\$ 11,500\) of accumulated depreciation.

(g) The following changes in operating accounts occurred:

\section*{Required:}
From a statement of cash flows, comment on the major cash inflows and outflows.

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Accounts Receivable. Inventory Accounts Payable. $27,000 increase 16,000 decrease 11,000 decrease