Ex: 3. Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2010

December 31

2009 2010

Cash......................................................... $42,000 $63,000

Accounts receivable (net)........................ 84,000 151,200

Inventory.................................................. 168,000 201,600

Land......................................................... 58,800 21,000

Equipment................................................ 504,000 789,600

TOTAL......................................... $856,800 $1,226,400

Accumulated depreciation....................... $84,000 $115,600

Accounts payable.................................... 50,400 86,000

Notes payable - Short-term..................... 67,200 29,400

Notes payable - Long-term...................... 168,000 302,400

Common stock......................................... 420,000 487,200

Retained earnings.................................... 67,200 205,800

TOTAL......................................... $856,800 $1,226,400

Additional data for 2010:

1. Net income was $235,200.

2. Depreciation was $31,600.

3. Land was sold at its original cost.

4. Dividends of $96,600 were paid.

5. Equipment was purchased for $84,000 cash.

6. A long-term note for $201,600 was used to pay for an equipment purchase.

7. Common stock was issued to pay a $67,200 long-term note payable.

Required: Prepare cash flow statement.