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Required information Exercise 16-22B (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 insuing stock Receipts from borrowing Cash Credit $ 473,300 20,825,200 Payments for inventory 7,288,820 Payments for wages 7, 705,324 Payments for rent 2,457,374 Payments for interest 5,352,076 Payments for taxes 9,017,312 Payments for machinery Payments for stock investments Payments for long-tern notes payable Payments for dividends Payments for treasury stock $ 5,518,678 1.915,918 1,103,736 749,707 1,561,890 7, 767,800 7.051, 100 1,332,813 1,728,492 749,707 Balance, Deceber 31, current year $ Exercise 16-22B (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 Cash paid for dividends Cash paid for interest Cash paid for inventory Cash paid for long-term notes payable 0 Cash flows from investing activities 0 Cash flows from financing activities