The income statement, balance sheets, and additional information for Peterson Incorporated are provided.

PETERSON INCORPORATED
Income Statement
For the Year Ended December 31, 2024
Net sales		$2,440,000
Gain on sale of land		9,000
Total revenues		2,449,000
Expenses:
Cost of goods sold	$1,570,000
Operating expenses	599,000
Depreciation expense	17,000
Interest expense	18,000
Income tax expense	64,000
Total expenses		2,268,000
Net income		$181,000

PETERSON INCORPORATED
Balance Sheets
December 31
	2024	2023
Assets
Current assets:
Cash	$114,560	$55,720
Accounts receivable	69,600	84,000
Inventory	136,000	129,000
Prepaid rent	3,040	4,680
Long-term assets:
Investments	189,000	110,000
Land	205,000	252,000
Equipment	218,000	204,000
Accumulated depreciation	(119,000)	(102,000)
Total assets	$816,200	$737,400
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$27,000	$82,000
Interest payable	3,600	2,400
Income tax payable	29,600	32,000
Long-term liabilities:
Notes payable	255,000	241,000
Stockholders' equity:
Common stock	284,000	240,000
Retained earnings	217,000	140,000
Total liabilities and stockholders equity	$816,200	$737,400

Additional Information for 2024:

1. Purchased additional investment in stocks for $79,000.
2. Sold land for $56,000. The land originally was purchased for $47,000, resulting in a $9,000 gain being recorded at the time of the sale.
3. Purchased $14,000 in equipment by issuing a $14,000 long-term note payable to the seller. No cash was exchanged in the transaction.
4. Declared and paid a cash dividend of $104,000.
5. Issued common stock for $44,000.

Required:

Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.)