Greenfield Incorporateds balance sheet is as follows:

Greenfield Incorporated
Adjusted Trial Balance
December 31, 2020
	Debit	Credit
Cash	19,950
Accounts Receivable	7,000
Inventory	8,000
Land	30,000
Building	24,000
Accumulated Depreciation		17,400
Accounts Payable		3,000
Accrued Expenses		1,500
Common Stock		20,000
Additional Paid-in Capital		20,000
Retained Earnings		13,200
Sales		80,000
Returns	1,000
Purchases	24,000
Salaries	29,240
Supplies	800
Utilities	5,600
Telephone	2,400
Bank Charges	710
Depreciation Expense	2,400
	155,100	155,100

Additional information needed is as follows:

• Changes from prior year balances included the following:
  • An increase in accounts receivable of $250
  • A decrease in inventory of $500
  • An increase in accounts payable of $300
  • An increase in accrued expenses of $100
• Land was purchased in July for $2,675.
• Cash as of January 1, 2020 was $7,225.

Using the above information, prepare the statement of cash flows using the indirect method for December 31, 2020. Then, answer the following questions:

1. What is the net cash amount provided or used by operating activities?
2. What is the net cash amount provided or used by investing activities?
3. What is the net cash amount provided or used by financing activities?
4. What amount is the starting point for the statement of cash flows?
5. What noncash expense is added back to net income in the operating section?
6. How is the increase in accounts receivable accounted for in the operating section of the statement of cash flows?
7. How is the decrease in inventory accounted for in the operating section of the statement of cash flows?
8. How is the increase in accounts payable accounted for in the operating section of the statement of cash flows?
9. How is the increase in accrued liabilities accounted for in the operating section of the statement of cash flows?
10. How is the purchase of land accounted for in the statement of cash flows?
11. How is the payment of cash dividends accounted for in the statement of cash flows?
12. What was the change in cash included on the balance sheet from the beginning to the end of the year?