Statement of Cash Flows (Indirect Method) Use the following information regarding the Lund Corporation to (a) prepare a statement of cash flows using the indirect method and (b) compute Lund's operating-cash-flow-to-current-liabilities ratio.

Accounts payable increase	$9,900
Accounts receivable increase	4,400
Accrued liabilities decrease	3,300
Amortization expense	6,600
Cash balance, January 1	24,200
Cash balance, December 31	16,500
Cash paid as dividends	31,900
Cash paid to purchase land	99,000
Cash paid to retire bonds payable at par	66,000
Cash received from issuance of common stock	38,500
Cash received from sale of equipment	18,700
Depreciation expense	31,900
Gain on sale of equipment	4,400
Inventory decrease	14,300
Net income	83,600
Prepaid expenses increase	2,200
Average current liabilities	110,000

a. Use negative signs with cash outflow answers.

LUND CORPORATION Statement of Cash Flows For Year Ended December 31
Cash Flow from Operating Activities
Net Income	$Answer
Add (deduct) items to convert net income to cash basis
Depreciation	Answer
Amortization	Answer
Gain on Sale of Equipment	Answer
Accounts Receivable Increase	Answer
Inventory Decrease	Answer
Prepaid Expenses Increase	Answer
Accounts Payable Increase	Answer
Accrued Liabilities Decrease	Answer
Cash Flow Provided by Operating Activities	Answer
Cash Flow from Investing Activities
Sale of Equipment	Answer
Purchase of Land	Answer
Cash Used by Investing Activities	Answer
Cash Flow from Financing Activities
Issuance of Common Stock	Answer
Retirement of Bonds Payable	Answer
Payment of Dividends	Answer
Cash Used by Financing Activities	Answer
Net Decrease in Cash	Answer
Cash at Beginning of Year	Answer
Cash at End of Year	$Answer

b. Operating-cash-flow-to-current-liabilities ratio (Round answer to two decimal places.)

Answer