19 ORD The income statement and additional data of Grand Corporation follow: (Click the icon to view the income Statement.) (Click the icon to view the additional data.) Prepare Grand Corporation's statement of cash flows for the year ended June 30, 2018. Use the direct method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement leave the box empty; do not select a label or enter a zero.) Statement of Cash Flows Year Ended June 30, 2018 Cash Flows from Operating Activities: Receipts: Total Cash Receipts Payments: Total Cash Payments Net Cash Provided by (Used for) Operating Activities The income statement and additional data of Grand Corporation follow: (Click the icon to view the Income Statement.) Dennaco Grand Canalia Data Table atatamantalanch Grand Corporation Income Statement Year Ended June 30, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Salaries Expense Depreciation Expense Plant Assets Advertising Expense Total Operating Expenses Operating Income Other Income and (Expenses) Dividend Revenue Interest Expense Total Other Income and (Expenses) 40,000 28,000 13,500 11,000 (3,000) 231,000 108,000 123,000 81,500 41,500 (Click the icon to view the additional data.) 2018. Use the direct method. (Use a minus sign or parentheses for amounts that result Xnot select a label or enter a zero.) 8,000 a. Collections from customers are $17,000 more than sales b. C. d. 0. f. g. h. More Info i. FROID Dividend revenue, interest expense, and income tax expense equal their cash amounts. Payments to suppliers are the sum of cost of goods sold plus advertising expense. Payments to employees are $2,500 more than salaries expense. Cash payment for the acquisition of plant assets is $104,000. Cash receipts from sale of land total $25,000. Cash receipts from issuance of common stock total $33,000. Payment of long-term notes payable is $20,000. Payment of dividends is $9,500. Cash balance at June 30, 2017, was $27,000; at June 30, 2018, it was $36,500 Print Done X