Accountants for Compass Software have developed the following data from the companv's accounting records for the vear

Question:

Accountants for Compass Software have developed the following data from the companv's accounting records for the vear ended April 30, 2005:

a. Purchase of plant assets, \($59,400

b.\) Cash receipt from issuance of common stock, \($8,000

c.\) Payment of dividends, \($48,400

d.\) Collection of interest, \($4,400

e.\) Payments of salaries, \($93,000

f.\) Cash receipt from sale of plant assets, $$22,400$ g.

Collections from customers, $$605,300$ h. Cash receipt of dividend revenue, $$4,100$ i. Payments to suppliers, $$370,300$ j. Depreciation expense, $$59,900$ k. Cash receipt from issuance of notes payable, $$19,600$ 1. Payments of notes payable, $$50,000$ m. Interest expense and payments, $$13,000$ n. Income tax expense and payments, $$37,000$ o. Cash balance: April 30, 2004, $$39,300;$ April 30, 2005, $$32,000$ Requirement Prepare Compass Software's statement of cash flows for the year ended April 30, 2005. Use the direct method for cash flows from operating activities. Follow the format of Exhibit 16A-3, page 830, but do not show amounts in thousands.

Exhibit 16A-3