Use the data in Short Exercise S-F:14-5 to complete this exercise. Prepare Winding Road Cellular’s statement of cash flows using the indirect method for the year ended April 30, 2024. Assume beginning and ending Cash are $48,000 and $52,200, respectively.

Data from S-F:14-5

Winding Road Cellular accountants have assembled the following data for the year ended April 30, 2024

Prepare the operating activities section using the indirect method for Winding Road Cellular’s statement of cash flows for the year ended April 30, 2024.

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Cash receipt from sale of land Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock $ 27,000 Net income 2,000 Cash purchase of equipment 5,800 Decrease in current liabilities 17,000 Increase in current assets other than cash $ 55,000 44,000 20,000 27,000