CLASSIFICATION OF CASH FLOWS Rolling Meadows Country Club, Inc., is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2009:

Net income $106,000 Decrease in accounts receivable, dues 4,000 Increase in pro shop inventory 28,600 Increase in prepaid insurance $ 15,800 Increase in accounts payable 11,400 Decrease in wages payable 10,400 Increase in income taxes payable 7,500 Cash paid for new golf carts 123,000 Cash received from sale of used golf carts 7,000 Depreciation expense, buildings 49,000 Depreciation expense, golf carts 23,000 Proceeds from issuance of note payable 35,000 Payment on mortgage payable 45,000 Cash received from issuance of common stock 38,500 Payment of cash dividends 40,000 Rolling Meadows had cash on hand at 1/1/09 of $10,300.

Required:

Prepare a properly formatted statement of cash flows using the indirect method.