The following arc Adair Company€™s December 31, 2015, post-closing trial L0 21.6 balance and the December 31, 2016, adjusted trial balance:

A review of the accounting records reveals the following additional information for 2016:
€¢ Investments in bonds to be held to maturity were purchased at year-end for $8,600
€¢ A building was purchased for $28,000.
€¢ A note payable was issued for $9,000.
€¢ Common stock was issued tor $ 14,500.
€¢ Dividends of $6,500 were declared and paid.
Required:
1. Using the direct method for operating cash flows, prepare a spreadsheet to support the 2016 statement of cash flows for Adair.
2. Prepare the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)

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12/31/15 Post -Closing Triul Dalance 12/31/16 Adjusted Trial Ddunce Credit Credit 10,000 105,300 Investments in Bonds 3 Accumulated Depreciation 4 43,600 38,000 58,100 2 3 Retained Eamings Other Operating Expenses 133,400 133,400 247,500 247,500