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Create the statement of cash flows using the indirect method from the information provided. Include the required supplemental information regarding interest and taxes and include any significant non-cash transactions:

Balance Sheet
December 31, 2015 and 2014
Assets				2015		2014
Current Assets
	Cash			$541,263		$413,900
	Accounts Receivable			164,450		126,500
	Merchandise Inventory			818,532		772,200
	Prepaid Insurance			680		680
		Total Current Assets		1,524,925		1,313,280
Property and Equipment
	Land			148,000		-
	Buildings			1,534,000		1,774,000
	Accumulated Depreciation-Buildings			(268,450)		(266,100)
	Equipment			638,000		638,000
	Accumulated Depreciation-Equipment			(446,600)		(382,800)
	Leased Warehouse			390,000		-
	Accumulated Depreciaion--Leased Warehouse			(19,500)		-
		Net Property and Equipment		1,975,450		1,763,100
Other Assets
	Investment in Marketable Securities			187,000		-
	Assets Held for Sale			-		15,500
		Total Other Assets		187,000		15,500
		Total Assets		3,687,375		3,091,880
Liabilities and Stockholders' Equity
Current Liabilities
	Accounts Payable			138,996		128,700
	Salaries and Wages Payable			23,090		21,990
	Interest Payable			4,459		2,570
	Taxes Payable			28,404		24,358
	Unearned Revenue			21,660		19,000
		Total Current Liabilities		216,608		196,617
Long-term Liabilities
	Capital Lease Liability			351,000		-
	Note Payable			413,400		440,400
		Total Long-term Liabilities		764,400		440,400
		Total Liabilities		981,008		637,017
Stockholders' Equity
	Common Stock			680,000		680,000
	Retained Earnings			2,026,367		1,774,863
		Total Stockholders' Equity		2,706,367		2,454,863
		Total Liabilities and Stockholders' Equity		$3,687,375		$3,091,880

		Required Information
1	The company paid dividends to its shareholders at the end of 2015. You need to calculate the amount.
2	The company sold a building (warehouse) in 2015. The building had a historical cost of $240,000 and was sold for $245,000 in cash.
3	The company purchased land for expansion.
4	The company invested in marketable securities with the intent of holding them long-term. They paid $187,000 for this investment.
5	The company sold an asset they were holding for sale for $15,500.
6	The company obtained a new warehouse through a 20-year capital lease agreement. They made a $39,000 cash principal payment on the first day of the lease term.
7	The company made a payment on their long term note.

Income Statement
For the Years Ending December 31, 2015 and 2014
				2015		2014
Sales Revenue				2,141,921		2,020,680
Cost of Goods Sold				(1,285,153)		(1,212,408)
	Gross Profit			856,768		808,272
Operating (Income) Expenses:
	Salaries and Wages Expense			363,394		346,090
	Insurance Expense			4,080		4,080
	Supplies Expense			10,650		9,771
	Depreciation Expense			121,650		108,150
	Gain on Sale of Building			(41,000)		-
		Total Operating Expenses		458,774		468,091
		Income from Operations		397,994		340,181
Other Income and (Expenses):
	Dividend Income			7,480		-
	Interest Expense			(26,754)		(15,414)
		Total Other Income and Expenses		(19,274)		(15,414)
		Income Before Income Taxes		378,720		324,767
		Tax Expense		(113,616)		(97,430)
		Net Income		265,104		227,337

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