Accountants for

Elwin,

Inc. have assembled the following data for the year ended December 31,2024:

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;

	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

	2024	2023
Current Assets:
Cash	$108,300	$23,000
Accounts Receivable	64,200	69,100
Merchandise Inventory	85,000	81,000
Current Liabilities:
Accounts Payable	58,300	56,300
Income Tax Payable	14,200	16,200

Transaction Data for 2024:
Issuance of common stock for cash	$40,000	Payment of notes payable	$48,100
Depreciation expense	21,000	Payment of cash dividends	53,000
Purchase of equipment with cash	72,000	Issuance of notes payable to borrow cash	63,000
Acquisition of land by issuing long-term notes payable	116,000	Gain on sale of building	6,500
Book value of building sold	61,000	Net income	72,500