Transaction Data for 2016:
Issuance of common stock for cash	$39,000	Payment of notes payable	$49,100
Depreciation expense	20,000	Payment of cash dividends	53,000
Purchase of equipment with cash	72,000	Issuance of notes payable to borrow cash	57,000
Acquisition of land by issuing long-term notes payable	123,000	Gain on sale of building	6,000
Book value of building sold	52,000	Net income	70,500

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2016

2015

Current Assets:

Cash

$90,400

$23,000

Accounts Receivable

64,500

69,100

Merchandise Inventory

78,000

76,000

Current Liabilities:

Accounts Payable

$57,700

$55,400

Income Tax Payable

14,700

16,600

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P14-33A (similar to) Accountants for Elwin, Inc. have assembled the following data for the year ended December 31, 2016: (Click the icon to view the current accounts. O Click the icon to view the transaction data. Prepare Elwin's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input fields and then click Check