Rosetta Inc.’s records contain the following information about the 2014

Rosetta Inc.’s records contain the following information about the 2014 cash flows.
Cash and cash equivalents balance, December 31, 2013 ....................................... $ 37,500
Cash and cash equivalents balance, December 31, 2014 ....................................... 84,375
Cash received as interest ....................................................................................... 3,750
Cash paid for salaries ............................................................................................. 26,250
Bonds payable retired by issuing common shares
(There was no gain or loss on the retirement)........................................................ 281,250
Cash paid to retire long-term notes payable .......................................................... 91,875
Cash received from sale of equipment ................................................................... 37,500
Cash borrowed on six-month note payable........................................................... 37,500
Land purchased and financed by long-term note payable ..................................... 159,375
Cash paid for store equipment .............................................................................. 35,625
Cash dividends paid .............................................................................................. 22,500
Cash paid for income taxes................................................................................... 30,000
Cash received from customers ............................................................................... 363,750
Cash paid for merchandise .................................................................................... 189,375
Depreciation expense............................................................................................ 108,750

Required
Prepare a statement of cash flows using the direct method and a note describing non-cash investing and financing activities.

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