8A.

WarnerWarner

Island, Inc. began

20182018

with cash of

$ 50 comma 000$50,000.

During the year,

WarnerWarner

Island earned revenue of

$ 160 comma 000$160,000

and collected

$ 100 comma 000$100,000

from customers. Expenses for the year totaled

$ 157 comma 000$157,000,

of which

WarnerWarner

Island paid

$ 64 comma 000$64,000

in cash to suppliers and

$ 75 comma 000$75,000

in cash to employees. The company received

$ 2 comma 100$2,100

cash for interest revenue and paid

$ 8 comma 000$8,000

for income taxes.

WarnerWarner

Island also paid

$ 40 comma 000$40,000

to purchase equipment and a cash dividend of

$ 26 comma 000$26,000

to its stockholders during

20182018.

Prepare the company's operating activities section of the statement of cash flows for the year ended December 31,

20182018.

Use the direct method.

8A. Warner Island, Inc. began 2018 with cash of $50,000. During the year, Warner Island earned revenue of $160,000 and collected $100,000 from customers. Expenses for the year totaled $157,000, of which Warner Island paid $64,000 in cash to suppliers and $75,000 in cash to employees. The company received $2,100 cash for interest revenue and paid $8,000 for income taxes. Warner Island also paid $40,000 to purchase equipment and cash dividend of $26,000 to its stockholders during 2018. Prepare the company's operating activities section of the statement of cash flows for the year ended December 31, 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.) Warner Island, Inc. Statement of Cash Flows (Partial) Year Ended December 31, 2018 Cash Flows from Operating Activities: Receipts: Interest Received Collections from Customers Total Cash Receipts Payments: To Employees To Suppliers For Income Tax Total Cash Payments Net Cash Provided by (Used for) Operating Activities