Classification of Cash Flows

Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during the year:

Net income	$115,300		Cash received from sale of used golf carts	$9,200
Decrease in accounts receivable	5,125		Depreciation expense (buildings)	47,200
Increase in pro shop inventory	28,600		Depreciation expense (golf carts)	23,700
Increase in prepaid insurance	15,800		Proceeds from issuance of note payable	45,000
Increase in accounts payable	11,400		Payment on mortgage payable	28,000
Decrease in wages payable	9,210		Cash received from issuance of common stock	38,500
Increase in income taxes payable	7,500		Payment of cash dividends	45,000
Cash paid for new golf carts	115,000

Rolling Meadows had cash on hand at Jan. 1 (the beginning of the year) of $9,890.

Required:

Prepare a properly formatted statement of cash flows using the indirect method. Use a minus sign to indicate any decreases in cash or cash outflows.

Rolling Meadows Country Club Inc. Statement of Cash Flows For the year ending December 31

Cash flows from operating activities:
Cash paid for dividendsNet change in cashNet incomeNet loss	$- Select -
Adjustments to reconcile net income to net cash flow from operating activities:
Accumulated depreciation, buildingsCash paid for dividendsCash paid for new golf cartsCash received for new golf cartsDepreciation expense, buildings	$- Select -
Accumulated depreciation, golf cartsCash received from sale of used golf cartsDepletion expense, golf cartsDepreciation expense, golf cartsIncrease in wages payable	- Select -
Accumulated depreciationCash from issuance of common stockDecrease in accounts payableDecrease in accounts receivableIncrease in accounts receivable	- Select -
Cash paid for new golf cartsCash received from sale of used golf cartsCost of goods soldIncrease in accounts receivableIncrease in pro shop inventory	- Select -
Accumulated depletionCash received from sale of used golf cartsDecrease in accounts payableIncrease in prepaid insuranceNet income	- Select -
Cash paid for new golf cartsCash received from sale of used golf cartsDecrease in accounts payableDecrease in note payableIncrease in accounts payable	- Select -
Cash paid for new golf cartsCash received from sale of used golf cartsDecrease in pro shop inventoryDecrease in wages payableIncrease in wages payable	- Select -
Cash received from sale of used golf cartsIncrease in income taxes payableIncrease in wages payablePayment on mortgage payableProceeds from issuance of note payable	- Select -
Net cash provided by operating activities		$fill in the blank 19
Cash flows from investing activities:
Accumulated depreciation, buildingsAccumulated depreciation, golf cartsCash paid for new golf cartsCash received from new golf cartsDepreciation expense, buildings	- Select -
Cash received from sale of used golf cartsDepreciation expense, golf cartsGain from sale of used golf cartsIncrease in accounts payableLoss from sale of used golf carts	- Select -
Net cash provided by operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash used for financing activitiesNet cash used for investing activities		- Select -
Cash flows from financing activities:
Decrease in accounts payableDecrease in wages payableIncrease in accounts payableIncrease in income taxes payableProceeds from issuance of note payable	$- Select -
Accumulated depreciation, buildingsDecrease in accounts receivableDecrease in wages payablePayment on mortgage payableProceeds from mortgage payable	- Select -
Accumulated depreciation, golf cartsCash from issuance of common stockCash paid for the issuance of treasury stockDecrease in pro shop inventoryIncrease in income taxes payable	- Select -
Cash paid for dividendsCash received for dividendsCash received for dividends receivableDepreciation expense, buildingsIncrease in income taxes payable	- Select -
Net cash provided by operating activitiesNet cash provided by financing activitiesNet cash provided investing activitiesNet cash used for financing activitiesNet cash used for investing activities		- Select -
Decrease in accounts payableDecrease in income taxes payableNet cash realizedNet increase (decrease) in cashNet gain from cash flows		$- Select -
Cash, Jan. 1		fill in the blank 38
Cash, Dec. 31		$fill in the blank 39