i got answer key but i just want to know why payment of cash dividends is 130000?

Required activities A r ea that will be part of a note to the Others and w ar unded De To ating acts. Ale prepare Path the mother to pr activ ca s ting and es y ament and the selected bal e nt and the 17 inc from operating t ule showing cash flow n ts from operar in the curre Tofin tda 2 U data to prepare a suppl by the me Interest revenu Expenses and los Interest expen Los on sale Income before in 1. 2017, and its w balance sheet at December 31, 2017 Prob Main . Antique L 's.com Pecuring the low statement direct and indirect income statement are Net income MAIN STREET ANTIQUES LTD. Balance Sheet December 31, 2017 and 2016 2017 $ 3.000 Current as $184.000 20.000 14.300 33,000 IR NOO 50,500 422.500 212.000 $1,619,000 241 500 18,000 301.000 14.000 Antoivate Interest recevable Inventories Prepaid expenses Long-term investment Plant and equipment.net Land 26000 38.00 Other informatio Acquired eg $5,000 cash. b. Purchased al Received cas d. Only cash di Paid short-te Required 1. Prepare the December 3 note to the ing activitie ing transact 2. Prepare as method. 18000 $1,491,500 $ 67.000 214.500 41.000 Current l es Nos payable, short-term Accounts payable Income tax payable Accrueda Interest payable Salaries payable Long-term note payable Common shares Retained earings $ 9.500 201,500 72,500 18500 14.500 13.000 470.500 256.000 324,500 $1,191,500 Problem 17 Cloverdale sa 18 500 4500 237 000 319,500 628x $1,619,000 below: MAIN STREET ANTIQUES LTD. Income Statement For the Year Ended December 31, 2017 $1.327.000 925,000 Net sales Cost of goods sold Gross margin Operating expenses Salaries expense Amortization expense Other expenses Operating income Net sales Cost of good Gross marg Operating Sellinge Adminis Interest Total op Operating Income ta Net incon $1940 27,000 210,000 194.000 4 Part 4 Analysis of Accounting Information MAIN STREET ANTIQUES LTD. 31, 2017 annary of financial For the Year Ended December 31, 2017 nce sheet here and expenses and gains: Interne E and losses (5O (30.500 Loss on sale of land ore income taxes its 2017 m 164.000) Vet income 1990 1.500 $ her information for the year ended December 31, 2017 Acquired equipment by suing a long-term note payable 576.50h, and paying $5.000 cash. Purchased a long-term investment for cash Received cash for issuance of common shares $40,000. Only cash dividends were issued during the year. Paid short-term note payable by issuing common shares Required 1. Prepare the cash flow statement of Main Street Antiques Ltd. for the year ended December 31, 2017, using the direct method to report operating activities. Also prepare a note to the financial statements providing a summary of non-cash investing and financ- ing activities. All current accounts, except short-term notes payable, result from operat- ing transactions 2. Prepare a supplementary schedule showing cash flows from operations by the indirect method. Problem 17-8B Cloverdale Sales Corp. had the financial statements for the year ended December 31 shown below Investing and financing activities using the financial statements to compute the Cash effects of a wide variety of business transactions, preparing a carth flow statement by the indirect method 205 CLOVERDALE SALES CORP Income Statement For the Year Ended December 31, 2017 $27.000 120,000 147.000 Net sales Cost of goods sold Gross margin Operating expenses Selling expenses Administrative expenses Interest expense Total operating expenses Operating income Income taxes 73,500 41.500 8.700 126,000 21.000 8.000 $12.600 flow differently Amortization Loss on sale of land Increase in current assets other than cash Decrease in current liabilities Net cash outflow from operating activities The operating cash flows are weak. $ 156,000 60,000 (252,000) (276.000) $(312.000) $ (24.000) P 17-7B Main Street Antiques Ltd. Cash Flow Statement For the Year Ended December 31, 2017 Cash flows from operating activities: Receipts: Collections from customers ($1,327,000 - $128,500) $1,198,500 From interest ($53,000 + $3,500) 56.500 Payments: To suppliers ($402.000 - $33.000 +($42.000) $(411,000) To employees ($194,000 + $8,500) (202,500) Interest ($30,500 - $4,000) (26,500 Other expenses ($210,000+ $7,500+ $4,500) (222,000) Income tax ($49,500 + $3,500) 53,000 Net cash inflow from operating activities $1,255,000 $1915.000 $340,000 Cash flows from investing activities: Sale of land ($480,000 $212,000 $33,500) Acquisition of equipment Acquisition of long-term investments Net cash inflow from investing activities $ 234,500 (5.000) (24.500) 205,000 Cash flows from financing activities: Payment of long-term note payable ($237,000 - $470,500 - $76,500) Issuance of common shares Payment of cash dividends $(310,000) 40,000 (130.000) of the Year Ended December 31, 2017 COALE SALES CORP Income Statement December 31 shown Selling expenses ng expenses Administrative expenses Interest expense Total operating et Operating ing Income