Zielinski Corporation issued the following statement of cash flows for 2012. ZIELINSKI CORPORATION Statement of Cash Flows-Indirect

Zielinski Corporation issued the following statement of cash flows for 2012.

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ZIELINSKI CORPORATION Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2012 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $59.000 $ 9,100 Decrease in accounts receivable 9,500 Loss on sale of equipment Increase in inventory Decrease in accounts payable 3,300 (5,000) (2,200) 14,700 Net cash provided by operating activities 73,700 Cash flows from investing activities 3,100 Sale of investments Purchase of equipment (27,000) (23,900) Net cash used by investing activities Cash flows from financing activities Issuance of stock 20,000 (10,000) (15,000) Payment on long-term note payable Payment for dividends (5,000) Net cash used by financing activities Net increase in cash 44,800 Cash at beginning of year 13.000 Cash at end of year $57,800