Exercise 17-12

The 2014 accounting records of Blocker Transport reveal these transactions and events.

Payment of interest	$10,060	Collection of accounts receivable	$181,470
Cash Sales	48,740	Payment of salaries and wages	53,880
Receipt of dividend revenue	18,340	Depreciation expense	15,750
Payment of income taxes	12,030	Proceeds from sale of vehicles	12,120
Net income	37,450	Purchase of equipment for cash	22,930
Payment od accounts payable		Loss on disposal of vehicles	3,340
For merchandise	114,400	Payment of dividends	14,550
Payment for land	73,730	Payment of operating expenses	28,390

A. Prepare the cash flows from operating activities section using the direct method.(2014)