Exercise $12-21$B $($Algo$)$ Direct: Preparing statement of cash flows and supporting note LO P$5$

$\backslash$table$[[$Cash and cash equivalents, December $31$ prior year$-$end,$$18,000],[$Cash and cash equivalents, December $31$ current year$-$end,$32,616],[$Cash received as interest,$1,800],[$Cash paid for salaries,$52,200],[$Bonds payable retired by issuing common stock $($no gain or loss on retirement$),135,000],[$Cash paid to retire long$-$term notes payable,$90,600],[$Cash received from sale of equipment,$44,100],[$Land purchased by issuing long$-$term notes payable,$78,300],[$Cash paid for store equipment,$17,100],[$Cash dividends paid,$10,800],[$Cash paid for other expenses,$28,800],[$Cash received from customers,$349,200],[$Cash paid for inventory,$181,584]]$

Use the above information about Ferron Company to prepare a complete statement of cash flows $($direct method$)$ for the current year ended December $31.$ Use a note disclosure for any noncash investing and financing activities.

Note: Amounts to be deducted should be Indicated with a minus sign.

$\backslash$table$[[$FERRON COMPANY$],[$Statement of Cash Flows$],[$For Year Ended December $31],[$Cash flows from operating activities,$],[$Receipts from customers,$349,200,],[$Receipts of interest,$1,800,],[$Payments for salaries,$(52,200),],[$Payments for inventory,$(181,584),],[$Payments for other expenses,$(28,800),],[,,]]$