Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows ( 1 answer below »

Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CEO Consultants.

   Listed below in random order are line items to be included in the statement of cash flows.

  Purchase of equipment $ 227,000   Increase in inventory 27,000   Increase in prepaid rent 5,500   Payment of dividends 36,000   Depreciation expense 10,000   Increase in accounts receivable 51,000   Increase in accounts payable 20,000   Loss on sale of land 10,500   Net income 62,000   Repayment of notes payable 44,000   Cash received from the sale of land 5,000   Issuance of common stock 247,000

Prepare the statement of cash flows for CEO Consultants using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign. Omit the “$” sign in your response.)