Statement of Cash Flows

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

Ordinary gain, $9,200

Proceeds from issuance of note, $25,000

Decrease in accounts receivable, $5,000

Payment for purchase of patent, $19,800

Increase in inventory, $6,700

Payment of dividends, $30,000

Decrease in accounts payable, $4,000

Proceeds from sale of investments, $8,500

Amortization of premium on bonds payable, $2,100

Net income, $49,200

Common stock exchanged for land, $14,000

Payment for purchase of equipment, $39,400

Loss on sale of investments, $4,800

Decrease in deferred taxes payable, $3,600

Proceeds from issuance of preferred stock, $52,800

Payment to retire bonds, $37,800

Depreciation expense, $10,700

Ending cash balance, $22,100

Required

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