= Homework: Chapter 16 Homework Question 3, PF16-33A (book/static Part 2 of 4 Data table Accountants for Morganson, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Morganson's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash Current Assets: Cash Gain on Sale of Building Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable Decrease in Income Tax Payable (4,500) 5,600 (8,000) 2,400 (2,000) 17,500 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Data table 2024 2023 Accounts Receivable Merchandise Inventory $ 99,400 $ 25,000 64,100 69,700 83,000 75,000 Current Liabilities: Accounts Payable 57,600 55,200 Income Tax Payable 14,800 16,800 Print Done Transaction Data for 2024: Issuance of common stock for cash $ 38,000 Payment of notes payable $ 46,100 Depreciation expense 24,000 Payment of cash dividends 50,000 Net Cash Provided by (Used for) Investing Activities Purchase of equipment with cash 74,000 Issuance of notes payable to borrow cash 62,000 Acquisition of land by issuing long-term notes payable 119,000 Gain on sale of building 4,500 Etext pages Calculator Ask my instructor Book value of building sold 54,000 Net income 68,500