The statement of financial position of Cantor Industries Inc. at December 31, 2015 and

2014, is as follows:

The noncurrent asset, noncurrent liability, and shareholders' equity accounts for 2015 are as follows:

The company realized $76,000 cash from the above sale transaction.

The above acquisition was completed with cash.

On January 26, equipment was retired. The August 11 purchase was a cash transaction.

On December 7, Cantor Industries issued 66,000 common shares at $1 per share.

Net income of $35,100 was closed to the retained earnings at the end of the year. Cash dividends of $13,200 were paid in December.
Instructions
a. Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities.
b. How does Cantor's cash flow compare to its net income? Summarize the changes that caused the difference.

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Dec. 31, 2015 Dec. 31, 2014 Assets $ 50.100 $ 56.300 Cash. Accounts receivable (net) Inventories.. Prepaid expenses ... Buildings ... Accumulated depreciation-buildings. Equipment... Accumulated depreciation-equipment . Land.. 117,400 101,600 153,100 144,300 4.400 165.000 (61.000) 88,300 (27.000) 231,000 3.100 330,000 (66,200) 110.100 (22,200) 165.000 $840.400 $702,900 Liabilities and Shareholders' Equity $ 99.000 Accounts payable (merchandise creditors).. $105, 200 3,600 Income taxes payable... Bonds payable.... Common shares Retained earnings . 4,400 55,000 231.000 451,000 165.000 429,100 $840,400 $702,900 Land Jan. 1 231,000 66,000 Apr. 20 165.000