Statement of Cash Flows (Indirect Method) Information for Newcastle Corporation Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par $13,000 18,200 (7,800 41,600 78,000 18,200 15,600 260,000 195,000 Cash received from issuance of common stock 117,000 Cash received from sale of equipment 31,200 Depreciation expense 101,400 Gain on sale of equipment 36,400 Inventory increase 33,800 Net income 249,600 Prepaid expenses increase 20,800