Cash received as interest Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents. December 31 prior year end Cash and cash equivalents, December 31 current year-end $ 12,000 33,744 1,200 Cash paid for salaries 34.800 Bonds payable retired by issuing common stock (no gain or loss on retirement) 175,000 60,000 29,400 Land purchased by issuing long term notes payable 101,500 11,400 7,200 19, 200 232,800 121,056 Cash paid to retire long-term notes payable Cash received from sale of equipment 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 Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. FERRON COMPANY Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities