Douglas Graphics Company, Inc., has the following comparative balance sheet as of March 31, 2012.

Selected transaction data for the year ended March 31, 2012, include the following:
a. Net income ..................................................................................................... $ 76,500
b. Paid long-term note payable with cash .......................................................... $ 59,900
c. Cash payments to employees ......................................................................... $ 42,100
d. Loss on sale of land ......................................................................................... $ 9,900
e. Acquired equipment by issuing long-term note payable ............................... $ 15,400
f. Cash payments to suppliers ........................................................................... $145,200
g. Cash paid for interest ....................................................................................... $ 3,300
h. Depreciation expense on equipment .............................................................. $ 13,900
i. Paid short-term note payable by issuing common stock .................................. $ 5,500
j. Paid cash dividends ........................................................................................ $ 45,800
k. Received cash for issuance of common stock ................................................. $ 2,300
l. Cash received from customers ......................................................................... $297,800
m. Cash paid for income taxes ............................................................................. $ 11,900
n. Sold land for cash ............................................................................................. $ 50,600
o. Interest received (in cash) .................................................................................. $ 1,600
p. Purchased long-term investment for cash .......................................................... $ 3,300
Requirements
1. Prepare the statement of cash flows for Douglas Graphics Company, Inc., for the year ended March 31, 2012, using the indirect method for operating cash flows. Include a schedule of noncash investing and financing activities. All of the current accounts, except short-term notes payable, result from operating transactions.
2. Also prepare a supplementary schedule of cash flows from operations using the direct method.

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Douglas Graphics Company, Inc. Balance Sheet As of March 31, 2012 and 2011 2012 2011 (Decrease Current assets: 55,400 14,600 $ 40,800 51,000 53,800 (2,800) 64,800 59,800 5,000 3,500 5,400 (1,900) 10,000 6,700 3,300 71,800 70,300 500 34.500 95.000 60,500) $291,000 $305,600 $ (14,600) Accounts receivab Prepaid expenses Long-term investment Equipment, Land Total a Current liabilities: Note payable, short-term Accounts payable Income tax payable Salary payable Interest payable Accrued li $ 43,400 48,900 S(5,500) 4,500 3,000 1,500 14,000 15,200 1,200) 9200 12,100 (2,900) 8,200 6,900 1,300 1,400 3,200 1,800) 48,700 93,200 (44,500) Long-term note payable Common Retained earnings Total liabilities and equity 9,00 61,200 7,800 92,60061,900 30,700 $291,000 $305,600 $ (14,600)