The following 2010 information is available for the Payne Company:

Partial additional information: The net income for 2010 totaled $1,600. During 2010, the company sold for $390, equipment that cost $390 and had a book value of $300. The company sold land for $200, resulting in a loss of $40. The remaining change in the Land account resulted from the purchase of land through the issuance of common stock.

Required
Making whatever additional assumptions that are necessary, prepare a worksheet (spreadsheet) to support the 2010 statement of cash flows for the PayneCompany.

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Comparative Balance Sheets January 1, 2010 December 31, 2010 Cash Accounts receivable Inventory Land Equipment Less: Accumulated depreciation Total Assets Accounts payable Notes payable (long-term) Common stock, no par Retained earnings Total Liabilities and Stockholders' Equity $ 400 220 370 250 2,070 (310) $3,000 $ 800 900 600 700 $3,000 S 600 200 610 410 2,200 (400) $3,620 500 720 1,000 1,400 $3,620