The following changes in account balances were taken from the adjusted trial balance of the Walson Company at the end of 2007:

In addition, the following information was obtained from the company€™s records:
1. Land was sold, at cost, for $1,900 4. Common stock was issued for $9,000
2. Dividends of $4,000 were declared and paid 5. Beginning cash balance was $17,000
3. Equipment was purchased for $10,400
Required
Using visual inspection and the direct method, prepare a 2007 statement of cash flows for the Walson Company. (A separate schedule reconciling net income to cash provided by operating activities is notnecessary.)

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Net Changes for 2007 2,100 8,700 Accounts receivable Inventory Land Buildings and equipmn 10,400 Accumulated depreciation 2,500 1,900 6,800 4,500 Salaries payable Income taxes payable Common stock, no par Retained earnings 800 1,000 9,000 4,000 69,000 Cost of goods sold Salaries expense Depreciation expense Income tax expense Totals 34,000 17,200 6,800 3,300 $91,000 $91,000