REFORMATTING A STATEMENT OF CASH FLOWS. Rolling Meadows Country Club, Inc., is a privately owned corporation that operates a golf club. The Club’s statement of cash flows appears below:

Prepare a properly formatted statement of cash flows.

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ROLLING MEADOWS COUNTRY CLUB, INC. Statement of Cash Flows For the Year Ended November 30, 19x6 INFLOWS OF CASH Net income $106,000 Decrease in accounts receivable, dues 4,000 Increase in accounts payable 11,400 Increase in income taxes payable 7,500 Proceeds from issue of short-term note payable 35,000 Cash received from sale of used golf carts 7,000 Cash received from issuance of common stock 40,000 Depreciation expense, buildings 49,000 Depreciation expense, golf carts 23,000 Total inflows of cash $282,900 OUTFLOWS OF CASH Increase in pro shop inventory Increase in prepaid insurance Decrease in wages payable Payment of cash dividends Payment on mortgage payable Cash paid for new golf carts Total outflows of cash Net increase in cash 28,600 15,800 11,400 40,000 45,000 123,000 263,800 $ 19,100