Statement of Cash Flows

The following is a list of the items to be included in the preparation of Warrick Company's 2016 statement of cash flows:

Net income, $59,200

Payment for purchase of building, $98,000

Increase in accounts receivable, $7,400

Proceeds from issuance of common stock, $37,100

Increase in accounts payable, $4,500

Proceeds from sale of land, $7,000

Depreciation expense, $12,600

Payment of dividends, $36,000

Gain on sale of land, $5,300

Decrease in inventory, $3,700

Payment for purchase of long-term investments, $9,600

Amortization of discount on bonds payable, $1,900

Proceeds from issuance of note, $18,000

Increase in deferred taxes payable, $5,000

Equipment acquired by capital lease, $19,500

Decrease in salaries payable, $2,300

Beginning cash balance, $20,300

Required

1. Prepare the statement of cash flows.

WARRICK COMPANY
Statement of Cash Flows
For Year Ended December 31, 2016
Operating Activities:
	$
Adjustment for noncash income items:
Adjustments for cash flow effects from working capital items:
Net cash provided by operating activities		$
Investing Activities:
	$
Net cash used for investing activities
Financing Activities:
	$
Net cash provided by financing activities
		$
		$
Investing and Financing Activities Not Affecting Cash
Investing Activities:
		$
Financing Activities:

2. Assume the company's preferred stock has been selling for $120 per share during 2016. How many shares would the company have had to issue to avoid having a decrease in cash during the year?

shares