Classifying Cash Flows

The company provided the following information:

a. Cash sales for the year were $50,000; sales on account totalled $60,000

b. Cost of goods sold was $55,000

c. All inventory is purchased on account

d. Depreciation on building was $31,000 for the year

e. Depreciation on equipment was $2,000

f. Cash collections of accounts receivable were $38,000

g. Cash payments on accounts payable for inventory equaled $39,000

h. Rent expense paid in cash was $11,000

i. 20,000 shares of common stock were issued for $240,000 in cash

j. Land valued at $106,000 was acquired in exchange for signing a mortgage note payable

k. Equipment was purchased for cash at a cost of $84,000

l. Dividends of $46,000 were declared but not yet paid

m. $15,000 of dividends that had been declared the previous year were paid in cash

n. Interest totaling $16,000 was paid in cash during the year

o. A machine used on the assembly line was sold for $12,000 in cash. The machine had a book value of $7,000

p. On January 1, the company entered into an operating lease to secure the use of a building having a cash price of $200,000. The first lease payment of $19,000 in cash was made on January 1.

1. Compute cash from operating activities.

2. Compute cash from investing activities.

3. Compute cash from financing activities.