Rolling Meadows Country Club, Inc., is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2009:

Net income ..................$106,000

Decrease in accounts receivable, dues ........ 4,000

Increase in pro shop inventory ........... 28,600

Increase in prepaid insurance ........... $ 15,800

Increase in accounts payable ............ 11,400

Decrease in wages payable ............ 10,400

Increase in income taxes payable ........... 7,500

Cash paid for new golf carts ............ 123,000

Cash received from sale of used golf carts ...... 7,000

Depreciation expense, buildings .......... 49,000

Depreciation expense, golf carts .......... 23,000

Proceeds from issuance of note payable ....... 35,000

Payment on mortgage payable ............ 45,000

Cash received from issuance of common stock ..... 38,500

Payment of cash dividends ............ 40,000

Rolling Meadows had cash on hand at 1/1/09 of ..... $10,300.

Required:

Prepare a properly formatted statement of cash flows using the indirect method.