Accountants for Johnson, Inc., have assembled the following data for the year ended

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P14-25A
Preparing the statement of cash flows-indirect method
Accountants for Johnson, Inc., have assembled the following data for the year ended
December 31, 2012:
December 31,
_____________________
2012 2011
Current Accounts:
Current assets:
Cash and cash equivalents …………………………………………… $92,100 $ 17,000
Accounts receivable ………………………………………………………. $64,500 $ 69,200
Inventories ……………………………………………………………………. $87,000 $ 80,000
Current liabilities:
Accounts payable ………………………………………………………….. $57,900 $56,200
Income tax payable ………………………………………………………. $14,400 $17,100
Transaction Data for 2012
Issuance of common stock Payment of note payable …………. $48,100
for cash……………………………… $40,000 Payment of cash dividends ………. $54,000
Depreciation expense………………. $25,000 Issuance of note payable
Purchase of equipment……………..$75,000 to borrow cash ………………… $67,000
Acquisition of land by issuing Gain on sale of building.……………… $5,500
long-term note payable…….$122,000 Net income…………………………………. $70,500
Cost basis of building sold ………. $53,000

Requirement: Prepare Johnson's statement of cash flows using the indirect method. Include an accompanying schedule of noncash investing and financing activities.