Accountants for Carlson, Inc. have assembled the following data for the year ended December 31, 2016:

Prepare Carlson€™s statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities.

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2016 2015 Current Assets: Cash Accounts Receivable Merchandise Inventory $ 89,200 64,600 85,000 S 18,000 68,800 7,000 Current Liabilities: S 55,400 16,200 Accounts Pavable 57,500 14,700 Income Tax Payable Transaction Data for 2016: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold 38,000 Payment of notes payable 21,000 Payment of cash dividends 73,000 Issuance of notes payable to borrow cash 122,000 Gain on sale of building 55,000 Net income $51,100 46,000 61,000 2,000 69,500