1. Winding Road Cellular accountants have assembled the following data for the year ended April 30, 2018: Cash receipt from sale of land Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock $ 27,000 2,000 5,800 17,000 Net income Cash purchase of equipment Decrease in current liabilities Increase in current assets other than cash $ 55,000 44,000 20,000 27,000 Prepare the operating activities section using the indirect method for Winding Road Cellulars statement of cash flows for the year ended April 30, 2018. 2. Prepare Winding Road Cellulars statement of cash flows using the indirect method for the year ended April 30, 2018. Assume beginning and ending Cash are $48,000 and $52,200, respectively.

Learning Objective 2 S14-5 Computing cash flows from operating activities-indirect method Winding Road Cellular accountants have assembled the following data for the year ended April 30, 2018: $27,000 Net income Cash receipt from sale of land Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock 2,000 5,800 17,000 Cash purchase of equipment Decrease in current liabilities Increase in current assets other than cash $55,000 44,000 20,000 27,000 Prepare the operating activities section using the indirect method for Winding Road Cellular's statement of cash flows for the year ended April 30, 2018. Note: Short Exercise S14-5 must be completed before attempting Short Exercise S14-6. Learning Objective 2S14-6 Computing cash flows from investing and financing activities Use the data in Short Exercise S14-5 to complete this exercise. Prepare Winding Road Cellular's statement of cash flows using the indirect method for the year ended April 30, 2018. Assume beginning and ending Cash are $48,000 and $52,200, respectively