Atlantic Company has the following calendar-year information: Cash paid for merchandise inventory.. Cash paid for interest on notes payable... Cash received from sale of land.. Cash paid for principal on notes payable...... Cash paid for operating expenses... Cash paid to purchase equipment... Cash received from customers.. Cash received from stock issuance... Cash borrowed on a long-term Inote payable... Cash paid for dividends to shareholders...... Cash balance at beginning of year.. Cash balance at end of year... $240,000 ..5,000 .100,000 25,000 280,000 .130,000 .575,000 ....60,000 45,000 .15,000 .40,000 .125,000 Required: Prepare a COMPLETE statement of cash flows for Atlantic Company using the direct method. Be sure to show cash inflows as positive amounts and cash outflows as negative amounts. (20 points possible)

Atlantic Company has the followina calendar-vear information: sing the direct method. Be sure to show cash inflows as positive amounts and cash outflows as negative amounts. ( 20 points possible)