prepare a cash flow statement

7-27 Frey Company's 2014 cash flow statement, as developed by its bookkeeper, is as follows FREY COMPANY Cash Flow Statement December 31, 2014 Cash Inflows $1,500 Collections from customers Receipt from issuance of note payabe. S0,800 5,900 Total inflows Cash Outflows: Payments to employees Withdrawals by owner. $24,300 5,000 Payment to purchase land. Payments to 8,000 19,400 suppliers.... Total outflowS 56,700 $1,500 4,400 $ 5,900 Increase in Cash. Cash, January 1, 2014 Cash, December 31, 2014 You determine that the amounts of the items listed on the statement are correct but are incorrectly classified Required: Prepare a correct 2014 cash flow statement for Frey Company