Use the data in Short Exercise 11-13 to prepare Middleburg Golf Club’s statement of cash flows for the year ended September 30, 2018. The company uses the direct method for operating cash flows.

Data from 11-13

Middleburg Golf Club, Inc., has assembled the following data for the year ended September 30, 2018:

Transcribed Image Text:

Cost of goods sold. . Payments to suppliers.. Purchase of equipment with cash . Payments to employee. Payment of note payable.. Proceeds from sale of land.. . Depreciation expense Payment of dividends. Proceeds from issuance of common stock. Sales revenue. Collections from customers Payment of income tax... $106,000 $ 6,500 113,000 42,000 22,000 79,000 226,000 23,000 47,000 208,000 17,000 Purchase of treasury stock.. 9,000 5,700