Answer: brainliest please
Explanation:
Prepare a statement of cash flows. Place brackets around amounts representing cash outflows. Use the
Statement of Cash flows
Cash flows from operating activities
cash received from customers
3,007,000
interest and dividends received
100,000
3,107,000
cash paid for merchandise
-1,520,000
cash paid for other operating expenses
-1,045,000
interest paid
-180,000
cash paid for income taxes
-95,000
net cash provided by operating activities
267,000
Cash flows from investing activities
Loans made to borrows
-500,000
Collections from loans to borrowers
260,000
cash paid for assets
-3,100,000
cash from sale of assets
575900
net cash provided by investing activities
-2,764,100
Cash flows from financing activities
proceeds from issuing bonds
2,500,000
payment of dividend
-120,000
net cash provided by financing activities
2,380,000
net increase in cash
-117,100
Cash balance, beginning
512,000
Cash transfer from money market to general bank 250,000
cash balance, ending
644,900
(1) Compute the amount of collections from customers.
Cash sales $ 812,000 + Collections on accounts receivable 2,195,000 = $3,007,000
(2) Compute the amount of cash paid to suppliers and employees.
Cash paid to suppliers = $1,520,000 + 1045000 = 2,565,000
(3) Compute the amount of proceeds from sales of plant assets
Proceeds from sales of plant assets $
Book value of plant assets sold 655,300 - Loss on sales of plant assets 79400 = $575,900
