Problem 11-54A (Algorithmic) Classification of Cash Flows

Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2019:

Net income	$115,300
Decrease in accounts receivable	5,125
Increase in pro shop inventory	28,600
Increase in prepaid insurance	15,800
Increase in accounts payable	11,400
Decrease in wages payable	9,210
Increase in income taxes payable	7,500
Cash paid for new golf carts	115,000
Cash received from sale of used golf carts	9,200
Depreciation expense, buildings	50,500
Depreciation expense, golf carts	23,700
Proceeds from issuance of note payable	45,000
Payment on mortgage payable	28,000
Cash received from issuance of common stock	38,500
Payment of cash dividends	45,000

Rolling Meadows had cash on hand at 1/1/2019 of $9,920.

Required:

Prepare a properly formatted statement of cash flows using the indirect method. Use a minus sign to indicate any decreases in cash or cash outflows.

Rolling Meadows Country Club, Inc.
Statement of Cash Flows
For the year ended December 31, 2019
Cash flows from operating activities:
		$
Adjustments to reconcile net income to net cash flow from operating activities:
	$
Net cash provided by operating activities			$
Cash flows from investing activities:
		$
Net cash used for investing activities
Cash flows from financing activities:
		$
Net cash provided by financing activities
			$
Cash, 1/1/2019
Cash, 12/31/2019