Chapter 11, Problem 11.68BP

(Learning Objectives 2, 3: Prepare the statement of cash flows—indirect method) Fortune Software Corp. has assembled the following data for the years ending December 31. 2018 and 2017:

Transaction Data for 2018:
Acquisition of land by issuing long-term note payable .....	$195,000
Stock dividends .....................	21,700
Collection of loan	10,500
Depreciation expense ............	19,000
Purchase of building with cash.........................	123,000
Retirement of bonds payable by issuing common stock ....	60,000
Purchase of long-term investment with cash .........	45,300
Purchase of treasury stock .....	$11,800
Gain on sale of equipment .....	2,000
Payment of cash dividends ....	15,100
Issuance of long-term note payable to borrow cash	50,600
Net income.......................	62,300
Issuance of common stock for cash .......................	36,700
Proceeds from sale of equipment ......................	24,300
Amortization expense ..........	4,200

Requirement

1. 1. Prepare Fortune’s statement of cash flows using the indirect method to report operating activities. Include a schedule of noncash investing and financing activities.