The comparative balance sheets of Amanda Aguilar Design Studio, Inc., at June 30, 2014, and 2013, and transaction data for fiscal 2014, are as follows:

Transaction data for the year ended June 30, 2014, follows:
a. Net income, $63,800
b. Depreciation expense on equipment, $13,900
c. Purchased long-term investment with cash, $4,800
d. Sold land for $50,400, including $6,400 loss
e. Acquired equipment by issuing long-term note payable, $15,000
f. Paid long-term note payable, $60,700
g. Received cash for issuance of common stock, $8,200
h. Paid cash dividends, $38,100
i. Paid short-term note payable by issuing common stock, $5,400

Requirements
1. Prepare the statement of cash flows of Amanda Aguilar Design Studio, Inc., for the year ended June 30, 2014, using the indirect method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities. All current accounts except Notes Payable, short-term, result from operating transactions.
2. Prepare a supplementary schedule showing cash flows from operations by the direct method. The accounting records provide the following: collections from customers, $235,900; interest received, $1,600; payments to suppliers, $130,300; payments to employees, $29,500; payments for income tax, $13,500; and payment of interest,$5,800.

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A1 Amanda Aguilar Design Studio Comparative Balance Sheets June 30 Increase 2014 2013 (Decrease) 3 Current assets: Cash Accounts receivable Inventories Prepaid expenses 31,900 18,500 31,700 50,200 13,400 48,000 16 18,500 800) 4,800 Long-term investment 10 Equipment, net 11 Land 10,000 74,700 73,600 33,10089,900 (56,800 Current liabilities: 13,800 19,200 (5,400) 39,500 40,900 1,400) Notes payable, short-term Income tax payable Interest payable 15 Accounts payable 13,500 15,000 (1,500) 17 Accrued liabilities 11,100 3 19 Salary payable 20 Long-term note payable 21 Common stock 22 Retained earnings 4,500 9 38,400 84100 45,700) 65,400 51,80013,600 4005,700