The comparative balance sheet of Northern Movie Theatre Company at March 31, 2017, reported the following:

Northern's transactions during the year ended March 31, 2017, included the following:

Requirements
1. Prepare Northern Movie Theatre Company's statement of cash flows for the year ended March 31, 2017, using the indirect method to report cash flows from operating activities. Report non-cash investing and financing activities in an accompanying schedule.
2. Evaluate Northern's cash flows for the year. Mention all three categories of cash flows and give the reason for your evaluation?

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March 31, 2017 2016 Current assets: Cash and cash equivalents Accounts receivable $9,900 %14,000 21,700 60,600 1,700 14,900 63,200 1,900 Prepaid expenses Current liabilities Accounts payable Accrued liabilities Income tax payable 30,300 10,700 8,000 27,600 11,100 4,700 Acquisition of land by Sale of long-term investmen. issuing note payable. Payment of cash dividend. Cash purchase of equipment Issuance of long-term note payable to borrow cash . SO, I $101,000 Depreciation expense. 17,300 Cash purchase of g.7,000 50,000 Issuance of common shares for cash11,000 18,000 ...0,00 78,700 Net income. 50,000 Stock dividend