(Appendix 11A) Preparing Net Cash Flows from Operating Activities-Direct Method Befuddled Corporation collected the following information on inflows and outflows for 2018:

\section*{Required:}
1. Prepare a statement of cash flows, using the direct method to determine net cash flow from operating activities.
YOUDECIDE \section*{OBJECTIVE \\ 8 \\ Problem

Transcribed Image Text:

Inflows Cash collections from sales Proceeds from disposal of equipment Proceeds received from issuance of notes payable Outflows $956,500 11,250 Cash payments for cost of goods sold Cash payments for operating expenses Cash payments for interest $534.900 193,200 36,400 30,000 Cash payments for income taxes 21,300 Cash payments for purchases of equipment 217,150 Repayment of short-term notes payable 20,000 Payment of cash dividends 38,000