1)

The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$	839,000
Net income for the year		240,000
Cash dividends declared for the year		44,000
Retained earnings balance at the end of the year		1,067,000
Cash dividends payable at the beginning of the year		10,400
Cash dividends payable at the end of the year		11,600

What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?

Multiple Choice

• $66,000.

• $45,200.

• $42,800.

• $44,000.

• $1,200.

2) Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Net income	$	85,600
Depreciation expense		12,300
Gain on sale of land		7,800
Increase in merchandise inventory		2,350
Increase in accounts payable		6,450

Multiple Choice

• $14,050.

• $13,050.

• $36,800.

• $94,200.

• $29,000.

  3) Use the following information to calculate cash received from dividends:

  Dividends revenue	$	38,300
  Dividends receivable, January 1		4,300
  Dividends receivable, December 31		6,800

  Multiple Choice

• $35,800.

• $40,800.

• $38,300.

• $31,500.

• $42,600.