2021	2020	Increase (Decrease)
Current assets:
Cash	$ 28,600	$ 8,600	$ 20,000
Accounts receivable	48,800	51900	(3,100)
Inventories	68,600	60,200	8,400
Prepaid expenses	3,700	2,800	900
Long-term investment	10,100	5,200	4,900
Equipment, net	74,500	73,600	900
Land	42,400	96,000	(53,600)
	$ 276,700	$ 298,300	$ (21,600)
Current liabilities:
Notes payable, short-term	$ 13,400	18,100	$(4,700)
Accounts payable	42,400	40,300	2,100
Income tax payable	13,800	14,500	(700)
Accrued liabilities	8,200	9,700	(1,500)
Interest payable	3,700	2,900	800
Salary payable	900	2,600	(1,700)
Long-term note payable	47,400	94,100	(46,700)
Common stock	59,800	51,200	8,600
Retained earnings	87,100	64,900	22,200
	$ 276,700	$ 298,300	$ (21,600)

Transaction data for the year ended June 30, 2021:

1. Net income, $60,300
2. Depreciation expense on equipment, $13,400
3. Purchased long-term investment, $4,900
4. Sold land for $46,900, including $6,700 loss
5. Acquired equipment by using long-term note payable, $14,300
6. Paid long-term note payable, $61,000
7. Received cash for issuance of common stock, $3,900
8. Paid cash dividends, $38,100
9. Paid short-term note payable by issuing common stock, $4,700

Required:

1. Prepare the statement of cash flows of Graphic Design Studio, Inc., for the year ended June 30, 2021, using the indirect method to report operating activities. Also prepare the accompanying schedule of non-cash investing and financing activities. All current accounts except short-term notes payable result from operating transactions.