The following information was taken from the records of Glassett Produce Company for the year ended June 30, 2015.

1. From the information given, prepare a statement of cash flows using the indirect method. Check figure: cash balance at year end = 35,300

2. Briefly explain what an interested party would learn from studying the cash flow statement for Glassett Produce Company.

Borrowed on long-term notes Issued capital stock Purchased equipment Net income Purchased treasury stock Paid dividends Depreciation expense Retired bonds payable $15,000 Patent amortization 45,000 Sold long-term investment (at cost) 18,000 Increase in cash 32,000 Decrease in inventories 5,000 ncrease in accounts receivable 29,000 ncrease in accounts payable 21,000 Cash balance, July 1, 2014 65,000 3,000 7,200 14,800 6,300 9,200 10,000 22,000