Statement of Cash Flows The following are several items involving Tejera Company's cash flow activities for 2019: Net income, $60,400 Receipt from issuance of common stock, $32,000 Payment for purchase of equipment, $41,500 Payment for purchase of land, $19,600 Depreciation expense, $20,500 Patent amortization expense, $1,200 Payment of dividends, $21,000 Decrease in salaries payable, $2,600 Increase in accounts receivable, $10,300 Beginning cash balance, $30,700 Required Prepare Tejera's statement of cash flows for 2019 using the indirect method. Use a minus sign for any negative amounts.

Ending cash balance  $49,800

Explanation:

                                 Tejera Company's

                           Statement of Cash Flows

                For the year ended December 31 2019

Net income                                                                         $60,400

Cash Flow from operating activities

Depreciation expense                                      $20,500

Patent amortization expense                            $1,200

Decrease in salaries payable                            ($2,600)

Increase in accounts receivable                       ($10,300)

                                                                                              $8,800

Cash flow provided by operating activities                         $69,200

Cash flow from investing activities

Payment for purchase of equipment                 ($41,500)

Payment for purchase of land                            ($19,600)

Net cash used by investing activities                                    ($61,100)

Cash flow from Financing activities

Payment of dividends                                         ($21,000)

Receipt from issuance of common stock          $32,000

Net cash provided by financing activities                            $11,000

Net changes in cash                                                              $19,100

Beginning cash balance                                                         $30,700

Ending cash balance                                                              $49,800

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