2 https://www.mathxl.com/Student/PlayerHomework.aspx2homeworkld-525670813&questionld-1fus.. ACCT& 202 Section DE (Spring 2019) Save Homework: Homework # 24 HW Score: 60.12%, 4.21 of 7 pts 2 of 7 (6 complete) Score: 0.83 of 1 pt Question Help * S14A-11 (similar to) Milk Inc. began 2018 with cash of $52000 During t customers. Expenses for the year totaled $425,000, of which Milk paid $214,000 in cash to suppliers and $201,000 in cash to employees. Mik also paid $141,000 to purchase equipment and a cash dividend of $53,000 to its stockholders Prepare the company's statement of cash flows for the year ended December 31, 2018. Format operating activities by the direct method the year, Milk earned revenue of $599,000 and collected $622,000 from during 2018 Complete the statement one section at a time, beginning with the cash flows from operating activities. (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.) Milk Inc. Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities Receipts S 622,000 Collections from Customers S 622,000 Total Cash Receipts Payments (201,000) Payments to Employees (214,000) Pavments to Sunnliers Enter any number in the edit fields and then click Check Answer. Check Answer Clear A Do Homework - Jacqueline medina - Google Chrome a https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkld-5256708138questionld-1&flus... ACCT& 202 Section DE (Spring 2019) Homework: Homework # 24 Save HW Score: 60.12%, 4.21 of 7 pts 2 of 7 (6 complete) Score: 0.83 of 1 pt & S14A-11 (similar to) Question Help Milk, Inc. began 2018 with cash of $52,000 During the year, Milk earned revenue of $599,000 and collected $622,000 from customers. Expenses for the year totaled $425,000, of which Milk paid $214,000 in cash to suppliers and $201,000 in cash to employees. Milk also paid $141,000 to purchase equipment and a cash dividend of $53,000 to its stockholders during 2018 Prepare the company's statement of cash flows for the year ended December 31, 2018 Format operating activities by the direct method (201,000) Payments to Employees Payments to Suppliers 415 000) Total Cash Payments 207,000 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities (141 000) Purchase of Equipment (141,000) Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Payment of Cash Dividends (53,000) (53 000) Net Cash Provided by (Used for) Financing Activities 3,000 Net Increase (Decrease) in Cash 56,000 Cash Balance, December 31, 2017 9,000 Cash Balance, December 31, 2018 Enter any number in the edit fields and then click Check Answer Check