The following are various cash flows and other information for Leer Company for 2016:
a. Payments of interest, $5,000
b. Depreciation expense, $22,700
c. Receipt from sale of land, $3,100
d. Payments of income taxes, $6,200
e. Beginning cash balance, $16,500
f. Decrease in receivables, $7,400
g. Interest and dividends collected, $6,300
h. Payments of dividends, $5,200
i. Decrease in accounts payable, $8,600
j. Payments to suppliers and employees, $50,300
k. Receipt from issuance of common stock, $11,000
l. Collections from customers, $61,700
m. Payment for purchase of investments, $17,800
n. Net income, $73,400
Required:
Using the direct method for operating cash flows, prepare Leer’s 2016 statement of cash flows.