The following information is provided for the Waif Corporation.

Balance Sheets
	December 31, 20XX		December 31, 20XW
Assets
Cash		$54,500		$17,400
Accounts receivable		64,800		52,200
Inventory		142,200		149,300
Land		60,000		87,000
Plant and equipment	206,000		158,000
Less: Accumulated depreciation	55,000		33,000
Net plant and equipment		151,000		125,000
Total assets		$472,500		$430,900
Liabilities and Equity
Accounts payable		$27,000		37,000
Bonds payable		118,000		158,000
Common stock		170,000		130,000
Retained earnings		157,500		105,900
Total liabilities and shareholders equity		$472,500		$430,900

During 20XX, the following occurred:

1. Net income was $91,000.
2. Bonds were retired by issuing new common stock.
3. No equipment was sold.
4. Cash dividends were paid.

a.Prepare a statement of cash flows for the Waif Corporation.(Amounts to be deducted should be indicated with a minus sign. Omit $ sign in your response.)

Waif Corporation Statement of Cash Flows
For the Year Ended December 31, 20XX
Operating activities:
(Click to select)Net incomeNet loss		$
Add items not requiring an outlay of cash:
(Click to select)Sale of landAmortization expenseDecrease in accounts payableDecrease in inventoryIncrease in inventoryIncrease in plant and equipmentIncrease in accounts receivable
Cash flow from operations
Changes in non-cash working capital:
(Click to select)Increase in accounts receivableAmortization expenseDecrease in accounts receivableIncrease in inventoryIncrease in accounts payable
(Click to select)Decrease in inventoryAmortization expenseDecrease in accounts receivableIncrease in inventoryIncrease in accounts payable
(Click to select)Decrease in accounts payableAmortization expenseDecrease in accounts receivableIncrease in inventoryIncrease in accounts payable
Net change in non-cash working capital
Cash(Click to select)used inprovided byoperating activities
Investing activities:
(Click to select)Increase in plant and equipmentAmortization expenseDecrease in plant and equipmentIncrease in accounts receivableDecrease in inventoryDecrease in accounts payable
(Click to select)Sale of landAmortization expenseDecrease in plant and equipmentIncrease in accounts receivableDecrease in inventoryDecrease in accounts payable
Cash(Click to select)used inprovided byinvesting activities
Financing activities:
(Click to select)Retirement of bonds payableAmortization expenseIncrease in accounts receivableDecrease in inventoryDecrease in accounts payable
(Click to select)Issue of common stockAmortization expenseIncrease in accounts receivableDecrease in inventoryDecrease in accounts payable
(Click to select)Common stock dividends paidAmortization expenseIncrease in accounts receivableDecrease in inventoryDecrease in accounts payable
Cash(Click to select)used inprovided byfinancing activities
(Click to select)Net increase in cashNet Decrease in cash
Cash, beginning of year
Cash, end of year		$

b.This part of the question is not part of your Connect assignment.