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The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized.

	Current Year			Prior Year
Balance Sheet
Assets
Cash	$	112,500		$	130,500
Accounts Receivable		140,000			122,500
Merchandise Inventory		105,000			113,750
Property and Equipment		200,000			105,000
Less: Accumulated Depreciation		(58,000	)		(30,000	)
Total Assets	$	499,500		$	441,750
Liabilities:
Accounts Payable	$	17,500		$	21,000
Salaries and Wages Payable		3,500			1,750
Notes Payable, Long-Term		87,500			105,000
Stockholders Equity:
Common Stock		160,000			140,000
Retained Earnings		231,000			174,000
Total Liabilities and Stockholders Equity	$	499,500		$	441,750

	Current Year
Income Statement
Sales	$	500,000
Cost of Goods Sold		260,000
Depreciation Expense		28,000
Other Expenses		125,000
Net income	$	87,000

Other information from the companys records includes the following:

	Bought equipment for cash, $95,000.
	Paid $17,500 on long-term note payable.
	Issued new shares of common stock for $20,000 cash.
	Cash dividends of $30,000 were declared and paid to stockholders.
	Accounts Payable arose from inventory purchases on credit.
	Income Tax Expense ($4,000) and Interest Expense ($3,000) were paid in full at the end of both years and are included in Other Expenses.

Required:

Prepare a schedule summarizing operating, investing, and financing cash flows using the T-account approach.

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