Prepare a statement of cash flows under the indirect method. Use a minus to indicate any decreases in cash or cash outflows.

Gains and Losses on the Sale of Long-Term Assets

The income statement for Dreamweaver Sports Camp follows. Assume that all revenues and expenses were for cash and that land was sold for $500. There were no other investing or financing activities during the year. The Cash balances at the beginning and end of the year were $100 and $1,170, respectively.

Dreamweaver Sports Camp Income Statement For Year Ended December 31, 20-2
Sales (all cash)		$2,100
Wages expense (all cash)		1,530
Operating income		$570
Gain on sale of land		100
Net income		$670