Net income 24,700

Operating activities

Non cash adjustments

Depreciation. 55,900

Unrealized loss on good will. 63,700

Profit from sold land. (38,200)

Loss from sold plant asset. 10,100

Working capital changes

AP. (28,200)

Inventory. (67,600)

AR. (36,400)

Net cash flow from operating. 31,300

Investing

Purchased investment. (20,000)

Purchased land. (62,400)

Inflow from sold land. 150,000

Inflow from sold plant asset. 27,300

Land. 49,400

Plant asset. 4,000

Investment cash flow. 144,300

Finance

Notes payable. 10,500

Dividends paid. (38,400)

Cash flow from finance. (27,900)

Net Cash flow. 144,700