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Transaction Data for 2016: Issuance of common stock for cash $39,000 Payment of notes payable $49,100 Depreciation expense 20,000 Payment of cash dividends 53,000 Purchase of equipment with cash 72,000 Issuance of notes payable to borrow cash 57,000 Acquisition of land by issuing long-term notes payable 123,000 Gain on sale of building 6,000 Book value of building sold 52,000 Net income 70,500 PrintDone		2016	2015
Current Assets:
Cash		$90,400	$23,000
Accounts Receivable		64,500	69,100
Merchandise Inventory		78,000	76,000
Current Liabilities:
Accounts Payable		$57,700	$55,400
Income Tax Payable		14,700	16,600

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P14-33A (similar to) Accountants for Elwin, Inc. have assembled the following data for the year ended December 31, 2016: (Click the icon to view the current accounts. O Click the icon to view the transaction data. Prepare Elwin's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Statement of Cash Flows Year Ended December 31, 2016 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input fields and then click Check

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