Cash receipt from sale of equipment

$

17,000

Depreciation expense

13,000

Cash payment of dividends

5,800

Cash receipt from issuance of common stock

20,000

Net income

38,000

Cash purchase of land

24,000

Increase in current liabilities

11,000

Decrease in current assets other than cash

9,000

Wolfe, Inc.'s accountants have assembled the following data for the year ended August

August 31, 2018

2018:

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Prepare Wolfe

Wolfe's statement of cash flows using the indirect method for the year ended August

August 31, 2018

2018. Assume beginning and ending Cash are $ 17 comma 000

$17,000 and $ 95 comma 200

$95,200 respectively.

Complete the statement one section at atime, 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 thestatement, leave the boxempty; do not select a label or enter azero.)

Wolfe, Inc.

Statement of Cash Flows

Year Ended August 31, 2018

Cash Flows from Operating Activities:

Net Income

Adjustments to Reconcile Net Income to

Net Cash Provided by 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, August 31, 2017

Cash Balance, August 31, 2018