Statement of Cash Flows

The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows:

1. Net income, $46,800
2. Payment for purchase of building, $92,000
3. Increase in accounts receivable, $7,900
4. Proceeds from issuance of common stock, $39,200
5. Increase in accounts payable, $4,600
6. Proceeds from sale of land, $8,600
7. Depreciation expense, $17,000
8. Payment of dividends, $34,000
9. Gain on sale of land, $4,100

Required

1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

PLEASE PUT WHETHER IT IS AN ADD OR LESS

2. Assume the company's preferred stock has been selling for $130 per share during 2019. How many shares would the company have had to issue to avoid having a decrease in cash during the year?

_____shares

WARRICK COMPANY Investing Activities: Payment for purchase of building Proceeds from sale of land Payment for purchase of long-term investments Net cash used for investing activities Financing Activities: Proceeds from issuance of common stock Payment of accounts payable Proceeds from issuance of note $39,20034,00015,000 Net cash provided by financing activities Net decrease in cash Cash, January 1, 2019 Cash, December 31, 2019 Investing and Financing Activities Not Affecting Cash Investing Activities: Acquisition of equipment under capital lease $18,300 Financing Activities: Acquisition of equipment under capital lease 18,300