This case takes the statement of cash flows a step beyond the chapter's coverage of this topic. However, you should be able to apply the principles learned thus far to solve it. Treasure Point Jewelry's statement of cash flows reported the following for the year ended June 30, 20X1. TREASURE POINT JEWELRY Statement of Cash Flows Year Ended June 30, 20X1 Cash flows from operating activities: Collections from customers on account. Cash flows from investing activities: Loaned out money on notes receivable Collected on notes receivable... $260,000 S (45,000) 60.000 Treasure Point's balance sheet one year earlier-at June 30, 20X0-reported Accounts Receivable of $40,000 and Notes Receivable of $20.000. Credit sales for the year ended June 30. 20X1. totaled $310.000. and the company collects all of its accounts receivable because uncollectibles rarely occur. Treasure Point Jewelry needs a loan and the owner is preparing Treasure Point's balance sheet at June 30, 20X1. To complete the balance sheet, the owner needs to know the balances of Accounts Receivable and Notes Receivable at June 30, 20X1. Supply the needed informa- tion: T-accounts are helpful.