The income statement, balance sheets, and additional information for Peterson Incorporated are provided.

PETERSON INCORPORATED

Balance Sheets

December $31$

Additional Information for $2024$:

Purchased additional investment in stocks for $$93,000.$

Sold land for $$60,000.$ The land originally was purchased for $$54,000,$ resulting in a $$6,000$ gain being recorded at the time of the

sale.

Purchased $$28,000$ in equipment by issuing a $$28,000$ long$-$term note payable to the seller. No cash was exchanged in the

transaction.

Declared and paid a cash dividend of $$118,000.$

Issued common stock for $$58,000.$

Required:

Prepare the statement of cash flows for Peterson Incorporated using the direct method. Disclose any noncash transactions in an

accompanying note. $($Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.$)$