The income statement, balance sheets, and additional information for Cloud Mangu are provided.

CLOUD MANGU
Income Statement
For the Year Ended December 31, 2024
Net sales		$ 3,436,000
Expenses:
Cost of goods sold	$ 2,250,000
Operating expenses	918,000
Depreciation expense	33,000
Loss on sale of land	8,600
Interest expense	18,000
Income tax expense	54,000
Total expenses		3,281,600
Net income		$ 154,400

CLOUD MANGU
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$ 267,160	$ 194,280
Accounts receivable	87,600	66,000
Inventory	105,000	141,000
Prepaid rent	13,440	6,720
Long-term assets:
Investments	111,000	0
Land	216,000	252,000
Equipment	282,000	216,000
Accumulated depreciation	(76,200)	(43,200)
Total assets	$ 1,006,000	$ 832,800
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$ 71,400	$ 87,000
Interest payable	6,600	11,200
Income tax payable	15,600	14,600
Long-term liabilities:
Notes payable	297,000	231,000
Stockholders' equity:
Common stock	360,000	360,000
Retained earnings	255,400	129,000
Total liabilities and stockholders equity	$ 1,006,000	$ 832,800

Additional Information for 2024:

1. Purchased investment in bonds for $111,000.
2. Sold land for $27,400. The land originally was purchased for $36,000, resulting in a $8,600 loss being recorded at the time of the sale.
3. Purchased $66,000 in equipment by issuing a $66,000 long-term note payable to the seller. No cash was exchanged in the transaction.
4. Declared and paid a cash dividend of $28,000.

Required:

Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note.

Note: Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.