P16-34A Accountants for Datsun, Inc., have assembled the following data for the year ended December 31, 2007 December 31, 2007 2006 Current Accounts: Current assets: Cash and cash equivalents $49,000 $34,000 73,700 86,600 90,600 Current liabilities: Accounts payable..71,600 67,500 6,800 Income tax 5,900 Transaction Data for 2007: Payment of cash dividens... $48,000 Issuance of note payable Depreciation expense... 30,200 Purchase of equipment69,000 to borrow cas. 63,000 Acquisition of land by issuing 50,500 long-term note payable... 118,000 Payment of note payable..47,000 36,000 Gain on sale of buildin3,500 Issuance of common stock for cash Requirement Prepare Datsun's statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non- cash investing and financing activities. (pp. 791-792, 795)