please DO NOT hand write. (Continued) L. Cash received from customers, $295,200 m. Cash paid for income taxes, $11,600 n. Sold land for cash, $52,300 o. Interest received (in cash), $1,800 p. Purchased long-term investment for cash, $2,900 Requirements 1. need help with a statement of cash flows for Graphic Company, Inc., for the year ended March 31, 2017, using the indirect method for operating cash flows. Include a schedule of noncash investing and financing activities. All of the current accounts except short-term notes payable result from operating transactions. 2. Also need a schedule of cash flows from operations using the direct method.

y, Inc. Comparative Balance Sheets March 31, 2017 and 2016 Assets 2017 2016 Increase Decrease) Current assets Cash 55,400 $ 14,900 40,500 o O Accounts receivable 51,600 53.300 (1,700) Inventory 64,900 59,800 5,100 9 Prepaid insurance 4,100 5,300 (1,200) 10 Total current assets 176,000 $ 133,300 11 12 Land 34.000 95.500 (61,500) 13 Equipment, net 1,500 70,400 1,100 14 Investments 9,800 6,900 2,900 otal assets $ 291,300 $ 306,100 16 17 Liabilities 18 Current liabilities 19 Accounts payable S 4,900 $ 3,500 1,400 20 Note payable, short-term 43,200 48,500 (5,300) 21 Income tax payable 13,800 15,100 (1,300) 22 Salary payable 9,400 12,400 (3,000) 23 Interest payable 8,200 7,000 1,200 24 Accrued liabilities 2,600 3,70 (1,100) 25 Total current liabilities 82,100 $ 90,200 26 27 Long-term liabilities 48,300 93,700 (45,400) 28 Total liabilities 130,400 $ 183,900 29 30 Stockholders' equity 31 Common stock 69,400 61,900 7,500 32 Retained earnings 91,500 60,300 31,200 33 Total stockholders' equity $ 160,900 $ 122,200 34 35 Total liabilities and equity 291,300 $ 306,100 36 Selected transaction data for the year ended March 31, 2017, include the following: a. Net income, $76,800 b. Paid long-term note payable with cash, $59,600 c. Cash payments to employees, $42,700 d. Loss on sale of land, $9,200 e. Acquired equipment by issuing long-term note payable, $14,200 f. Cash payments to suppliers, $145,600 g. Cash paid for interest, $3,000 h. Depreciation expense on equipment, $13, 100 i . Paid short-term note payable by issuing common stock, $5,300 j. Paid cash dividends, $45,600 k. Received cash for issuance of common stock, $2,200