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At the end of the year, Wyatt Company had the following information related to transactions in its cash account: Payments for inventory $380,000 Collections on

At the end of the year, Wyatt Company had the following information related to transactions in its cash account:

Payments for inventory

$380,000

Collections on accounts receivables

500,000

Payments for interest

3,000

Payments for wages and salaries

174,000

Payments for purchase of land

45,000

Proceeds from sale of equipment

26,000

Payments for retirement of long-term debt

20,000

Proceeds from sale of common stock

100,000

Payments for taxes

55,000

Additionally, Wyatt had a cash balance at the beginning and ending of the year of $75,000 and $24,000, respectively.

Using this information, prepare Wyatt's cash flow statement using the direct method.

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