possible (Click the icon to view the transaction data.) Smithson Software Inc. has assembled the following data for the year ended December 31, 2020. (Click the icon to view the current accounts.) Requirement Prepare Smithson Software Inc.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations? Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase (decrease) in cash. (Use a minus sign or parentheses subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows.) CQ Cash flows from operating activities: Net income Smithson Software Inc. Statement of Cash Flows For the Year Ended December 31, 2020 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Loss on sale of equipment Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Increase in income tax payable Decrease in accrued liabilities Subtotal Net cash provided by operating activities Cash flows from investing activities: Durchase of building Current accounts Current Accounts: Current assets: Cash and cash equivalents December 31, 2020 2019 . . . $ 61,800 $ 25,000 70,000 64,700 88,500 82,000 3,300 1,900 Accounts receivable Inventories Prepaid expenses Current liabilities: Accounts payable 57,400 55,800 Income tax payable 18,300 16,600 Accrued liabilities 15,200 27,500 Print Done ext Smithson Software Inc. has assembled the following data for the year ended December 31, 2020. (Click the icon to view the current accounts.) Requirement (Click the icon to view the transaction data.) (s) possible Prepare Smithson Software Inc.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations? Net cash provided by operating activities Cash flows from investing activities: Purchase of building Purchase of long-term investment Proceeds from sale of equipment Collection of loan Net cash used for investing activities Cash flows from financing activities: Issuance of common shares Issuance of long-term note payable Payment of cash dividends Repurchase of common shares Net cash provided by financing activities Net increase (decrease) in cash Cash balance, December 31, 2019 Q Cash balance, December 31, 2020 Non-cash investing and financing activities: Acquisition of land by issuing long-term note payable Repayment of bonds payable by issuing common shares Total non-cash investing and financing activities Transaction data Transaction Data for 2020: Acquisition of land by issuing long-term note payable $ 101,000 Stock dividends.... 31,800 Collection of loan.... 10,800 Depreciation expense... 21,000 Purchase of building.... 62,000 Repayment of bonds payable by issuing common shares..... 61,000 Purchase of long-term investment... 44,700 Repurchase of common shares 14,900 Loss on sale of equipment ... 3,500 Payment of cash dividends.... 18,200 Issuance of long-term note payable to borrow cash. 34,600 32,000 Net income. Issuance of common shares for cash ... 38,000 58,900 Proceeds from sale of equipment. . . Print Done