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 outfiows of cash during the year: Rolling Meadows had cash on hand at Jan, 1 (the beginning of the year) of $9,620. 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. For the year ending December 31 Cash flows: from operating activities: Nek income Adjustments to reconcile net income to net cash flow from operating activities: Repreciation expense, buldings Depreciation expense, qolf carts Decrease in accounts recelyable Increase in pro shop inventory Increase in prepaid insurance Increase in accounts payable Decrease in wages mayable Lncroase in income takes payable Net cash provided by operating activities Cash flows from investing activities: Cash pald for new colf carts Cash received from sale of used aolf carts Net cash used for investing activities Cash flows from financing activities: Proceeds from issuance of note payable Poyment on mortaaqe payable Cash from issuance of common stock Increase in pro shop inventory Increase in prepaid insurance Increase in accounts payable Decrease in wages pavable Increase in income taxes pavable Net cash provided by operating activities Cash flows from investing activities: Cash paid for new golf carts Cash received from sale of used qolf carts Net cash used for investing activities Cash flows from financing activities: Proceeds from issuance of note pavable Payment on mortaage pavable Cash from issuance of common stock Cash paid for dividends Net cash provided by financing activities Cash, Jan. 1 Cash, Dec. 31