The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized.

	Current Year				Prior Year
Balance Sheet
Assets
Cash	$	70,500			$	91,500
Accounts Receivable		100,000				87,500
Merchandise Inventory		75,000				81,250
Property and Equipment		140,000				75,000
Less: Accumulated Depreciation		(39,600	)			(20,000	)
Total Assets	$	345,900			$	315,250
Liabilities:
Accounts Payable	$	12,500			$	15,000
Salaries and Wages Payable		2,500				1,250
Notes Payable, Long-Term		62,500				75,000
Stockholders Equity:
Common Stock		120,000				100,000
Retained Earnings		148,400				124,000
Total Liabilities and Stockholders Equity	$	345,900			$	315,250
Income Statement
Sales	$	300,000
Cost of Goods Sold		160,000
Depreciation Expense		19,600
Other Expenses		75,000
Net income	$	45,400

Other information from the companys records includes the following:

• Bought equipment for cash, $65,000.
• Paid $12,500 on long-term note payable.
• Issued new shares of common stock for $20,000 cash.
• Cash dividends of $21,000 were declared and paid to stockholders.
• Accounts Payable arose from inventory purchases on credit.
• Income Tax Expense ($4,000) and Interest Expense ($3,000) were paid in full at the end of both years and are included in Other Expenses.

Required: Prepare a schedule summarizing operating, investing, and financing cash flows using the T-account approach.

Cash Operating 0 Net cash flow provided by operating activities Investing 0 Net cash flow used in investing activities Financing 0 Net cash flow used by financing activities Net decrease in Cash Beginning Balance, Cash Ending Balance, Cash