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Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2015 Cash Flows from Operating Activities Net income .......................................................... $ Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities ........................ _____ Cash Flows from Investing Activities Net cash flows from investing activities ........................ _____ Cash Flows from Financing Activities Net cash flows from financing activities ....................... _____ Net increase (decrease) in cash .................................. $ 3,765 Cash at the beginning of the period ............................ 7,510 Cash at the end of the period ................................... $11,275 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land .................................... $ 8,650 Issuance of common stock .............................................. 13,075 Depreciation expense ................................................... 5,465 Increase in accounts receivable ........................................ 4,090 Decrease in accounts payable .......................................... 1,760 Issuance of long-term notes payable ................................. 16,495 Purchase of equipment ................................................. 39,865 Decrease in inventory .................................................. 1,475 Decrease in prepaid rent ............................................... 905 Payment of dividends ................................................. 6,370 Net income .............................................................. 12,400 Purchase of treasury stock ............................................ 2,615 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method.
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