P17-2A Fordham Clothing Corporation accountants have developed the following data from the company's accounting records for the year ended July 31, 20x1:

a. Loan to another company $35.000.

b. Income tax expense and payments, $56.400.

c. Depreciation expense. $27,700.

d. Collections on accounts receivable. 5673.100.

e. Loan collections. $74,400

f. Proceeds from sale of investments. $34,700, including a $3.800 loss. g. Payment of long-term debt by issuing preferred stock. $107.300. h. Amortization expense. $23.900. i. Cash sales, $146,000. j. Proceeds from issuance of common stock. $116.900. k. Payment of cash dividends. $50.500. 1. Cash balance: July 31, 20X0-$53.800 July 31, 20X1-5? m. Salary expense. $105,300. n. Cash payments to purchase plant assets. $181.000. o. Proceeds from issuance of short-term debt. $44.100. p. Payments of long-term debt. $18,800. q. Proceeds from sale of plant assets. $59,700, including a $10,600 gain. r. Interest revenue. $12.100. s. Cash receipt of dividend revenue on stock investments. $2,700. t. Payments to suppliers. $673,300. u. Interest expense and payments, $37.800. v. Cost of goods sold. $481,100. w. Collection of interest revenue, $3,700. x. Acquisition of equipment by issuing short-term note payable, $35.500. y. Payments of salaries. $104.000. z. Credit sales, $608,100. Required 1. Prepare Fordham's statement of cash flows for the year ended July 31, 20X1. Follow the format of Exhibit 17-2 (page 657), but do not show amounts in thousands. Include an accompanying schedule of noncash investing and financing activities. 2. Evaluate 20X1 in terms of cash flow. Give your reasons.