Exercise 12-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5 [The following information applies to the questions displayed below.] The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. Check my work Cash Debit Balance, December 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing $ 396,800 17,459,200 Payments for inventory 6,110, 720 Payments for wages 6,459,904 Payments for rent 2,060, 186 Payments for interest 4,487,014 Payments for taxes 7,559,834 Payments for machinery Credit $ 4,626,688 1,606,246 925,338 628,531 1,309,440 6,512,282 Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock 6,582,118 1,117,389 1,449,114 628,531 Balance, December 31, current year $ ? Exercise 12-22B (Algo) Part 1 (1) Prepare a complete statement of cash flows for the current year using the direct method. (Amounts to be deducted should be indicated with a minus sign.) THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Required information THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash Check my work Exercise 12-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5 [The following information applies to the questions displayed below.] The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. Check my work Receipts from issuing stock Receipts from borrowing Cash Debit Credit Balance, December 31, prior year $ 396,800 Receipts from customers 17,459,200 Payments for inventory Receipts from dividends 6,110,720 Payments for wages Receipts from land sale 6,459,904 Payments for rent Receipts from machinery sale 2,060,186 Payments for interest 4,487,014 Payments for taxes 7,559,834 Payments for machinery $ 4,626,688 1,606,246 925,338 628,531 1,309,440 6,512,282 Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock 6,582,118 1,117,389 1,449,114 628,531 Balance, December 31, current year $ ? Exercise 12-22B (Algo) Part 2 (2) Refer to the statement of cash flows for part 1 to answer the following questions a through d. a. (i) Which section shows the largest cash inflow? a. (ii) Which section shows the largest cash outflow? b. What is the largest individual item among the investing cash outflows? c. The cash proceeds are larger from: d. From borrowing activities the company has