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Accountants for Johnson, Inc. have assembled the following data for the year ended December 31, 2015:

2015 2014

Current Assets:

Cash $92,100 $17,000

Accounts Receivable 64,500 69,200

Merchandise Inventory 87,000 80,000

Current Liabilities:

Accounts Payable $57,900 $56,200

Income Tax Payable 14,000 17,100

Transaction Data for 2015:

Issuance of common stock for cash $40,000 Depreciation expense 25,000 Purchase of equipment with cash 75,000 Acquisition of land by issuing long-term note payable 122,000 Book value of building sold 53,000

Payment of notes payable $48,100 Payment of cash dividends 54,000 Issuance of note payable to borrow cash 67,000 Gain on sale of building 5,500 Net Income 70,500

Assignment: Prepare Johnson’s statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities.