December 31,
			2021	2020
	Current Accounts:
	Current assets:
	Cash and cash equivalents		$34,400	$24,000
	Accounts receivable		19,000	64,000
	Inventories		8,000	87,000
	Prepaid expenses		3,100	1,900
	Current liabilities:
	Accounts payable		$10,400	$56,100
	Income tax payable		29,100	16,800
	Accrued liabilities		14,900	27,500

Transaction Data for 2021:
Acquisition of land by issuing				Purchase of treasury stock			$14,600
	long-term note payable	$201,000		Loss on sale of equipment			4,200
Stock dividends		31,600		Payment of cash dividends			44,000
Collection of loan		10,000		Issuance of long-term note
Depreciation expense		23,000		payable to borrow cash			52,200
Purchase of building				Net income			6,500
with cash		159,000		Issuance of common stock
Retirement of bonds payable				for cash			83,100
by issuing common stock		61,000		Proceeds from sale of
Purchase of long-term				equipment			12,200
investment with cash		45,000		Amortization expense			5,000

Smithson

Software Corp. has assembled the following data for the years ending December 31,

2021

and

2020.

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Requirement

1.	Prepare Smithson's statement of cash flows using the indirect method to report operating activities. Include a schedule of noncash investing and financing activities.

Start by completing the cash flows from operating activities. Then complete the remaining sections of the statement of cash flows including the schedule of noncash investing and financing activities. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.)

	Smithson Software Corp.
	Statement of Cash Flows (Indirect Method)
	Year Ended December 31, 2021
	Cash flows from operating activities:
	Net income		$6,500
	Adjustments to reconcile net income to
	net cash provided by (used for) operating activities:
	Depreciation expense	$23,000
	Amortization expense	5,000
	Loss on sale of equipment	4,200
	Decrease in accounts receivable	45,000
	Decrease in inventories	79,000
	Increase in prepaid expenses	(1,200)
	Decrease in accounts payable	(45,700)
	Increase in income tax payable	12,300
	Decrease in accrued liabilities	(12,600)	109,000
	Net cash provided by (used for) operating activities		115,500

	Cash flows from investing activities:
	Net cash provided by (used for) investing activities