Use the following information to perform the calculations below (using the indirect method).
Net income
$650,000
Beginning accounts payable
$121,000
Depreciation expense
96,000
Ending accounts payable
159,000
Beginning accounts receivable
423,200
Purchase of long-term assets
610,000
Ending accounts receivable
446,000 Issuance of long-term debt
263,000
Beginning inventory
520,000
Issuance of stock for cash
188,000
Ending inventory
577,000
Issuance of stock for long-term assets
113,000
Beginning prepaid insurance
41,600
Purchase of treasury stock
67,500
Ending prepaid insurance
50,000
Sale of long-term investment at cost
57,500
(a)