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A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $89,100
A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $89,100 Cash received from sale of stock 23,200 Cash payments: Cash paid for expenses $26,700 Cash paid for land 45,000 Cash paid for supplies 430 Dividends 4,200 The cash balance as of January 1 $40,700 Prepare a statement of cash flows for Linda's Design Services for the year ended December 31. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Linda's Design Services Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Cash received from customers $Cash received from customers 89,100 Cash payments for expenses and supplies Cash payments for expenses and supplies 26,270 Net cash flows from operating activities $fill in the blank 5 151,070 Cash flows used for investing activities: Cash payment for land Cash payment for land 45,000 Cash flows from financing activities: Cash investment received from sale of stock $Cash investment received from sale of stock Cash dividends Cash dividends 4,200 Net cash flows from financing activities fill in the blank 12 Net increase in cash $Net increase in cash Cash balance, January 1 fill in the blank 15 40,700 Cash balance, December 31 $fill in the blank 16 14,000
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