Statement of Cash Flows (Indirect Method) Information for the Lund Corporation Accounts payable increase Accounts receivable increase $27,000 12,000 Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 9,000 18,000 66,000 45,000 Cash paid as dividends 87,000 Cash paid to purchase land 270,000 Cash paid to retire bonds payable at par 180,000 Cash received from issuance of common stock 105,000 Cash received from sale of equipment 51,000 Depreciation expense 87,000 Gain on sale of equipment 12,000 Inventory decrease 39,000 Net income 228,000 Prepaid expenses increase 6,000 Average current liabilities 310,000