·Financial Statement Preparation - Statement of Cash Flows:

• Requirement: Prepare a statement of cash flows using the direct method.
• Question: Given the following information, prepare a statement of cash flows for the year ended December 31, 2024: Cash received from customers = $200,000, Cash paid to suppliers = $120,000, Cash paid for operating expenses = $50,000, Interest received = $5,000, Dividends paid = $10,000.