Exercise 12-14 The following information is available for Sunland Company for 2017. Cash used to purchase treasury stock $ 151,996 Cash dividends paid 68,888 Cash paid for interest 70,784 Net income 1,467,188 Sales revenue 2,534,320 Cash paid for taxes 312,840 Cash received from customers 1,788,876 Cash received from sale of building (at book value) 624,416 Cash paid for operating expenses 243,320 Beginning cash balance 34,760 Cash paid for goods and services 881,956 Cash received from issuing common stock 1,121,800 Cash paid to redeem bonds at maturity 632,000 Cash paid to purchase equipment 357,712 Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sunland Company Statement of Cash Flows—Direct Method $ : $ $
Prepare a statement of cash flows using the direct method.
Cash flow from operating activities | ||
Cash received from customers | 1788876 | |
Cash paid for goods and services | -881956 | |
Cash paid for operating expenses | -243320 | |
Cash paid for interest | -70784 | |
Cash paid for taxes | -312840 | |
Net cash flow from operating activities | 279976 | |
Cash flow from investing activities | ||
Cash received from sale of building | 624416 | |
Cash paid to purchase equipment | -357712 | |
Net cash flow from investing activities | 266704 | |
Cash flow from financing activities | ||
Cash used to purchase treasury stock | -151996 | |
Cash dividends paid | -68888 | |
Cash received from issuing common stock | 1121800 | |
Cash paid to redeem bonds at maturity | -632000 | |
Net cash flow from financing activities | 268916 | |
Net cash flow | 815596 | |
Beginning cash | 34760 | |
Ending cash | 850356 | |
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