Accountants for

Elwin,

Inc. have assembled the following data for the year ended December 31,

2024:

2024

2023

Current Assets:

Cash

$93,400

$20,000

Accounts Receivable

64,000

69,200

Merchandise Inventory

88,000

81,000

Current Liabilities:

Accounts Payable

57,900

55,400

Income Tax Payable

15,000

17,200

(Click the icon to view the current accounts.)

Transaction Data for 2024:

Issuance of common stock for cash

$36,000

Payment of notes payable

$42,100

Depreciation expense

17,000

Payment of cash dividends

54,000

Purchase of equipment with cash

72,000

Issuance of notes payable to borrow cash

66,000

Acquisition of land by issuing long-term notes payable

118,000

Gain on sale of building

3,500

Book value of building sold

58,000

Net income

66,000

(Click the icon to view the transaction data.) Prepare

Elwin's

statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities.

Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)

	Elwin, Inc.
	Statement of Cash Flows
	Year Ended December 31, 2024
	Cash Flows from Operating Activities:
	Net Income
	Adjustments to Reconcile Net Income to Net Cash
	Provided by (Used for) Operating Activities:
	Net Cash Provided by (Used for) Operating Activities

	Cash Flows from Investing Activities:
	Net Cash Provided by (Used for) Investing Activities

	Cash Flows from Financing Activities:
	Net Cash Provided by (Used for) Financing Activities

	Net Increase (Decrease) in Cash
	Cash Balance, December 31, 2023
	Cash Balance, December 31, 2024
	Non-cash Investing and Financing Activities:
	Total Non-cash Investing and Financing Activities