Accountants for Smithson, Inc. have assembled the following data for the year ended December 31, 2016

	2016	2015
Current Assets:
Cash	$102,700	$20,000
Accounts Receivable	63,500	69,500
Merchandise Inventory	85,000	80,000
Current Liabilities:
Accounts Payable	$57,900	$56,000
Income Tax Payable	14,400	17,000

Transaction Data for 2016:

Issuance of Common stock for cash $42,000	Payment of notes payable $42,100
Depreciation expense 25,000	Payment of cash dividend 52,000
Purchase of equipment with cash 73,000	Issuance of notes payable 60,000
Acquisition of land by issuing long-term notes payable 118,000	Gain on sale of building 4,000
Book value of building sold 53,000	Net income 69,500

Prepare Smithson'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 parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)

	Smithson, Inc.
	Statement of Cash Flows
	Year Ended December 31, 2016
	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, 2015
	Cash Balance, December 31, 2016
	Non-cash Investing and Financing Activities:
	Total Non-cash Investing and Financing Activities

Choose from any list or enter any number in the input fields and then continue to the next question.