The net changes in the balance sheet accounts of Eau Gallie, Inc. for the year 20X1 are shown on the attached page. Other additional information is also available on the next page.

REQUIRED: Prepare a statement of cash flows, in proper form, for the year ending December 31, 20X1, using the indirect method. Ignore income tax effects. Exclude the reconciliation of cash balance but include a schedule of noncash investing and financing activities.

EAU GALLIE, INC. INCOME STATEMENT DATA FOR YEAR ENDED DECEMBER 31, 20X1 Income before extraordinary item Extraordinary loss: Condemnation of land Net income S 136,000 66,000 S 70,000 (b) Cash dividends of $64,000 were declared December 15, 20X1, payable January 15, 20X2 A 5% stock dividend was issued March 31, 20X1, when the market value was $22.00 per (c) All changes to the long term investments account were due to sales of investments for (d) A building and land which cost $240,000 and had a book value of $150,000 were sold for share S70,000 $200,000. The cost of the land, included in the cost and book value above, was $10,000 (e) The following entry was made to record an exchange of an old machine for a new one Debit Credit Machinery Accumulated Depreciation, Machinery 80,000 20,000 Machinery 30,000 Cash 70,000 (f)A fully depreciated copier machine which cost $14,000 was written off. All other changes to the accumulated depreciation accounts were due to depreciation expense (g) Preferred stock with a par value of S30,000 was redeemed for $40,000 (h) | The company sold 6,000 shares of its common stock on June 15, 20X1, for $25 a share There were 43,800 shares outstanding on December 31, 20Xl (i) Bonds payable were sold at 104 on December 31,20X1 () Land that was condemned that had a book value of $120,000