Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5

Cash and cash equivalents, December 31 prior year-end	$ 37,000
Cash and cash equivalents, December 31 current year-end	104,044
Cash received as interest	3,700
Cash paid for salaries	107,300
Bonds payable retired by issuing common stock (no gain or loss on retirement)	130,000
Cash paid to retire long-term notes payable	185,000
Cash received from sale of equipment	90,650
Land purchased by issuing long-term notes payable	75,400
Cash paid for store equipment	35,150
Cash dividends paid	22,200
Cash paid for other expenses	59,200
Cash received from customers	717,800
Cash paid for inventory	373,256

Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities.

Note: Amounts to be deducted should be indicated with a minus sign.