Ryan's Electronics accountants assembled the following data for the year ended May 31, 2020.

Cash receipt from sale of land                          $22,000          Net Income                                     $61,000

Depreciation Expense                                         $2,000           Cash purchase of equipment       $34,000 

Cash payment of dividends                               $5,300           Decrease in current liabilities       $19,000

Cash receipt from issuing common stock      $28,000          Increase in current assets             $24,000 

Prepare Ryan's Electronics statement of cash flows using the indirect method for the year ended May 31, 2020.

Assume beginning and ending Cash are $23,400 and $54,100, respectively.

Ryans Electronics
Statement of Cash Flows - Indirect Method
For Year Ending May 31, 2020

Description	Amount	Total
Subcategory,Cash Flow from Operating Activities:
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income
Subcategory,Adjustment to reconcile Net Income to Net Cash Flow
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income
Subcategory,Changes in Operating Assets & Liabilities
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income	Single line	Single line
Net Cash Flows from Operating Activites		Single line
Subcategory,Cash Flows from Investing Activities
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income	Single line	Single line
Net Cash Flows from Investing Activities		Single line
Subcategory,Cash Flows from Financing Activities
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income	Single line	Single line
Net Cash Flows from Financing Activites		Single lineSingle line
Increase in Cash		Single line
Subcategory,
Adjustment to reconcile Net Income to Net Cash FlowCash Flow from Operating Activities:Cash at the beginning of the yearCash payment of dividendsCash purchase of equipmentCash receipt from issuing common stockCash receipt from sale of landDecrease in Current AssetsDecrease in Current LiabilitiesDepreciation ExpenseIncrease in Current AssetsIncrease in Current LiabilitiesNet Income		Single line
Cash at the end of the year		Single line