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Exercise 4-13 (Algo) Statement of cash flows preparation; direct method [LO4-8] The following summary transactions occurred during 2021 for Bluebonnet Bakers: $390,000 8,500 44,000 24,000
Exercise 4-13 (Algo) Statement of cash flows preparation; direct method [LO4-8] The following summary transactions occurred during 2021 for Bluebonnet Bakers: $390,000 8,500 44,000 24,000 125,000 Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders 185,000 7,500 70,000 75,000 30,000 25,000 The balance of cash and cash equivalents at the beginning of 2021 was $16,000. Required: Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)
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