Intermediate accounting cash flow statement given balance sheets and income statement?

[seme22]

I have to do a cash flow statement with this data *indirect, and have been having a nightmare of a time
Balance Sheet
December 31,
2014 2013
Cash $ 31,000 $ 15,000
Accounts receivable 28,500 30,000
Allowance for doubtful accounts (2,000) (1,500)
Inventory 15,000 10,000
Prepaid insurance 1,400 2,400
Property, plant, and equipment 81,000 80,000
Accumulated depreciation (16,000) (20,000)
Land 81,100 40,100
Total assets $ 220,000 $ 156,000
Accounts payable $ 11,000 $ 10,000
Wages payable 1,000 2,000
Interest payable 1,000 -
Notes payable, long-term 46,000 20,000
Common stock, nopar 136,000 100,000
Retained earnings
25,000
24,000
Total liabilities and
stockholders' equity $ 220,000 $ 156,000
Income Statement
Sales revenue $
80,000
Cost of goods sold (35,000)
Depreciation expense (5,000)
Bad debt expense (1,000)
Insurance expense (1,000)
Interest expense (2,000)
Salaries and wages expense (12,000)
Income tax expense (3,000)
Remaining expenses (13,000)
Loss on sale of operational assets
(2,000)
Net income $
6,000
Additional information:
1. Wrote off $500 accounts receivable as uncollectible.
2. Sold an operational asset for $4,000 cash (cost, $15,000, accumulated depreciation,
$9,000).
3. Issued common stock for $5,000 cash.
4. Declared and paid a cash dividend of $5,000.
5. Purchased land for $20,000 cash.
6. Acquired land for $21,000, and issued common stock as payment in full.
7. Acquired operational assets, cost $16,000; issued a $16,000, three-year,
interest-bearing note payable.
8. Paid a $10,000 long-term note installment by issuing common stock to the creditor.
9. Borrowed cash on a long-term note, $20,000.

This is how I tried the problem:
I started with my net income of 6,000
added depreciation expense 5,000
loss on asset sale 2,000
decrease in accounts receiv. 1,500
decrease in accounts pay 1,000
subtracted 5000 from inventory
32,000 from all the expenses (this is where I'm not sure if i'm doing it right)
and my total at the end is -$12,000 used in operating activities. All our examples so far have positive numbers from this part. I have no idea how to do the financing and investing parts. If someone can help me I would be really grateful.

[arber47]

Depreciation Expense and Bad Debt Expense are the only two expense items that should appear on your cash flow statement.

Here are the items you need to look at for each cash flow activity.

Operating Activities
Accounts receivable 28,500 30,000
Allowance for doubtful accounts (2,000) (1,500)
*Note: You want to use net Accounts Receivable
Inventory 15,000 10,000
Prepaid insurance 1,400 2,400
Accounts payable $ 11,000 $ 10,000
Wages payable 1,000 2,000
Interest payable 1,000 -
Depreciation expense (5,000)
Bad debt expense (1,000)

Investing Activities
2. Sold an operational asset for $4,000 cash (cost, $15,000, accumulated depreciation,
$9,000).
*Note: Add the $4,000 to investing activities. Add the $2,000 loss to operating activities.
5. Purchased land for $20,000 cash.

Financing Activities
3. Issued common stock for $5,000 cash.
4. Declared and paid a cash dividend of $5,000.
9. Borrowed cash on a long-term note, $20,000.



Items that will not affect the cash flow statement.
1. Wrote off $500 accounts receivable as uncollectible.
6. Acquired land for $21,000, and issued common stock as payment in full.
7. Acquired operational assets, cost $16,000; issued a $16,000, three-year,
interest-bearing note payable.
8. Paid a $10,000 long-term note installment by issuing common stock to the creditor.

INDIRECT METHOD FOR CASH FLOWS
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income
+ Depreciation, Amortization or Depletion
+ Non-operating Losses
- Non-operating Gains
+ any increases in Current Liabilities
+ any decreases in Current Assets (except cash)
- any decreases in Current Liabilities
- any increases in Current Assets (except cash)
= Cash Flow from Operating Activities

CASH FLOW FROM INVESTING ACTIVITIES:
+ sell Long-term assets
- buy (construct) Long-term assets
= Cash Flow from Investing Activities

CASH FLOW FROM FINANCING ACTIVITIES:
+ Stock issued for cash
+ Cash borrowed with loans and bonds
- Treasury stock repurchased for cash
- Cash used to repay loans and bonds
- Cash dividends paid
=Cash Flow from Financing Activities

Total Cash Flow (Operating, Investing, Financing)
+ Beginning Cash
= Ending Cash

That's as much help I can give you without telling you the answers. Good luck.