The information shown below is taken from the accounts of Waverly Corporation for the year ended December 31, 2017

Net income $329,700

Amortization of patent 12,600

Proceeds from issuance of common stock 108,150

Decrease in inventory 28,350

Sale of building at a $15,000 gain 89,250

Decrease in accounts payable 15,750

Purchase of equipment 194,250

Payment of cash dividends 25,200

Depreciation expense 57,750

Decrease in accounts receivable 24,150

Payment of mortgage 78,750

Increase in short-term notes payable 8,400

Sale of land at a $5,000 loss 42,000

Purchase of delivery van 34,650

Cash at beginning of year 215,013

Instructions

Prepare a statement of cash flows for Waverly Corporation for the year ended December 31, 2017.