Exercise 12-21B (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 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory $ 28,000 78,736 2,800 81,200 100,000 140,000 68,600 58,000 26,600 16,800 44,800 543,200 282,464 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. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Receipts from customers Receipts of interest Payments for inventory Payments for salaries Payments for other expenses Net cash provided by operating activities Cash flows from investing activities Receipt from sale of equipment Payment for store equipment Net cash provided by investing activities Cash flows from financing activities Payment to retire long-term notes payable Payment of cash dividends Net cash used in financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at prior year-end Cash and cash equivalents at current year-end Net cash provided by investing activities Cash flows from financing activities Payment to retire long-term notes payable Payment of cash dividends Net cash used in financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at prior year-end Cash and cash equivalents at current year-end Noncash investing and financing activities Bonds payable retired by issuing common stock Land purchased by issuing long-term notes payable