Preparing the statement of cash flows-indirect method with non-cash transactions The 2015 income statement and comparative balance sheet of Rolling Hills, Inc. follow: Additionally, Rolling Hills purchased land of $23,600 by financing it 100% with long-term notes payable during 2015. During the year, there were no sales of land, no retirements of stock, and no treasury stock transactions. A plant asset was disposed of for $0. The cost and the accumulated depreciation of the disposed asset was $11,560. Prepare the 2015 statement of cash flows, formatting operating activities by the indirect method. How will what you learned in this problem help you evaluate an investment