Statement of Cash Flows

The following is a list of the items for Lombardo Company's 2019 statement of cash flows:

a.	depreciation expense, $4,200		g.	proceeds from issuance of note, $6,200
b.	proceeds from sale of land, $5,600		h.	gain on sale of land, $1,800
c.	payment of dividends, $5,000		i.	payment for purchase of building, $13,000
d.	net income, $7,900		j.	increase in accounts receivable, $2,700
e.	conversion of bonds to common stock, $7,000		k.	ending cash balance, $13,900
f.	increase in accounts payable, $3,100

Required:

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

LOMBARDO COMPANY
Statement of Cash Flows
For Year Ended December 31, 2019
Operating Activities:
Net income
Adjustment for noncash income items:
Add: Depreciation expense
Less: Gain on sale of equipment
Adjustments for cash flow effects from working capital items:
Increase in accounts receivable
Increase in accounts payable
Net cash provided by operating activities
Investing Activities:
Proceeds from sale of land
Payment for purchase of building
Net cash used for investing activities
Financing Activities:
Payment of dividends
Proceeds from issuance of note
Net cash provided by financing activities
Net increase in cash
Cash, January 1, 2019
Cash, December 31, 2019
Investing and Financing Activities Not Affecting Cash
Financing Activities:
Conversion of bonds to common stock
Issuance of common stock to convert bonds