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. 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 Cash Credit $ 329,300 14,489,200 Payments for inventory 5,071,220 Payments for wages 5,361,004 Payments for rent 1,709,726 Payments for interest 3,723, 724 Payments for taxes 6,273,824 Payments for machinery Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock $ ? $ 3,839,638 1,333,006 767,928 521,611 1,086,690 5,404,472 5,462,428 927,309 1, 202,604 521,611 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 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 Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash (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. 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 Cash Credit $ 329, 300 14,489,200 Payments for inventory 5,071,220 Payments for wages 5,361,004 Payments for rent 1,709,726 Payments for interest 3,723,724 Payments for taxes 6,273,824 Payments for machinery Payments for stock investments Payments for long-term notes payable Payments for dividends Payments for treasury stock $ ? $ 3,839,638 1,333,006 767,928 521,611 1,086,690 5,404,472 5, 462,428 927, 309 1, 202,604 521,611 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