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Problem ( 1 0 points ) . Attached are the comparative balance sheets for Neeson Corporation for the years ending December 3 1 , 2

Problem (10 points).
Attached are the comparative balance sheets for Neeson Corporation for the years ending December 31,20x6 and 20X7. The following additional information is also available for fiscal year 20X7.
\table[[,\table[[NEESON CORPORATION],[ADDITIONAL INFORMATION FOR PREPARING],[FTATEMENT OF CASH FLOWS],[FOR YEAR ENDING DECEMBER 31,20X7]]],[(1),\table[[Equipment that originally cost $11,000 and was 40% depreciated at the time of disposal was],[sold for $2,500.]]],[(2),$15,000 of the long term note payable was paid by issuing common stock.],[(3),\table[[On January 1,20x7 the building was completely destroyed by a flood. Insurance proceeds],[on the building were $33,000 after $4,000 in taxes on the gain were paid.]]],[(4),Long term investments were sold at $2,500 above their cost.],[(5),\table[[A long term note was issued in the amount of $16,000 for the purchase of equipment. The],[company also made additional borrowings using long term notes during the year.]]],[(6),All other purchases of equipment were made in cash.],[(7),\table[[The company declared dividends of $10,000, which were paid during the year along with],[the dividends that were payable at the beginning of the year. All other changes to the],[retained earnings account were due to net income for the period.]]]]
REQUIRED: Using the attached form, prepare a statement of cash flows for the company for the year ending December 31,20X7, in proper form, using the indirect method. Be sure to include a schedule of noncash investing and financing activities.

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