Question

A summary of cash flows for Parker Consulting Group for the year ended January 31, 20Y4, follows:

Cash receipts:
Cash received from customers	$638,000
Cash received from issuing common stock	67,500
Cash payments:
Cash paid for operating expenses	475,000
Cash paid for land	89,000
Cash paid for dividends	19,000

The cash balance as of February 1, 20Y3, was $56,500.

Labels
Cash flows from financing activities
Cash flows from operating activities
Cash flows from investing activities
Cash flows used for financing activities
Cash flows used for operating activities
Cash flows used for investing activities
For the Year Ended January 31, 20Y4
January 31, 20Y4
Amount Descriptions
Cash balance, February 1, 20Y3
Cash balance, January 31, 20Y4
Cash received from customers
Cash received from issuing common stock
Cash paid for operating expenses
Cash paid for land
Cash paid for dividends
Net cash flows from financing activities
Net cash flows from investing activities
Net cash flows from operating activities
Net cash flows used for financing activities
Net cash flows used for investing activities
Net cash flows used for operating activities
Net decrease in cash
Net increase in cash

Required:

Prepare a statement of cash flows for Parker Consulting Group for the year ended January 31, 20Y4. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. Use the minus sign to indicate cash outflows, cash payments and decreases in cash.

Answer 1