Statement of Cash Flows $($Indirect Method$)$

Use the following information regarding the Lund Corporation to $($a$)$ prepare a statement of cash flows using the indirect method and $($b$)$ compute Lund's operating$-$cash$-$flow$-$to$-$current$-$liabilities ratio.

Accounts payable increase $$16,200$

Accounts receivable increase $7,200$

Accrued liabilities decrease $5,400$

Amortization expense $10,800$

Cash balance, January $139,600$

Cash balance, December $3127,000$

Cash paid as dividends $52,200$

Cash paid to purchase land $162,000$

Cash paid to retire bonds payable at par $108,000$

Cash received from issuance of common stock $63,000$

Cash received from sale of equipment $30,600$

Depreciation expense $52,200$

Gain on sale of equipment $7,200$

Inventory decrease $23,400$

Net income $136,800$

Prepaid expenses increase $3,600$

Average current liabilities $180,000$