$ 43,000 120,916 4,300 124,700 110,000 215,000 105,350 43,000 63,800 40,850 25,800 68,800 834,200 433,784 Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory Use the above information about the cash flows of Ferron Company to prepare a complete statement of cash flows (direct method) for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. FERRON COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Receipts of interest 4,300 Payment of cash dividends 834,200 Payments for salaries (124,700) Cash paid for inventory (433,784) Payments for other expenses (68,800) Net cash provided by operating activities 211,216 Cash flows from investing activities Receipt from sale of equipment 105,350 Payment for store equipment (40,850) Net cash provided by investing activities 64,500 Cash flows from financing activities Payment to retire long-term notes payable (215,000) Receipt from borrowing on six-month note 43,000 Pavment of cash dividends Payment of cash dividends Net cash provided by financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (172,000) $ 103,716 43,000 $ 146,716 Noncash investing and financing activities Bonds payable retired by issuing common stock Land purchased by issuing long-term note payable Bonds payable retired by issuing common stock $ 110,000 63,800 173,800