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I need help filling in the three empty boxes with x's next to them. I can't figure out what I'm doing wrong. Thank you! You
I need help filling in the three empty boxes with x's next to them. I can't figure out what I'm doing wrong. Thank you!
You may use the attached spreadsheet to help you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel icon in the upper left hand corner of the activity. Statement of Cash Flows: Direct Method The following are various cash flows and other information of the Leer Company for 2016 a. Payments of interest, $5,000 b. Depreciation expense, $22,700 c. Receipt from sale of land, $3,100 d. Payments of income taxes, $6,200 e. Beginning cash balance, $16,500 f. Decrease in receivables, $7,400 g. Interest and dividends collected, $6,300 h. Payments of dividends, $5,200 i. Decrease in accounts payable, $8,600 j. Payments to suppliers and employees, $50,300 k. Receipt from issuance of common stock, $11,000 I. Collections from customers, $61,700 m. Payment for purchase of investments, $17,800 n. Net income, $73,400 Required: Using the direct method for operating cash flows, prepare the Leer Company's 2016 statement of cash flows. Use a minus sign for any negative amounts LEER COMPANY Statement of Cash Flows For Year Ended December 31, 2016 Cash Inflows 61,700 v Interest and dividends collected Cash inflows from operating activities Cash Outflows: 6,300 6B,000 Payments to suppliers and employees Payments of interest Payments of income taxes 50,300 5,000 6,200 -61,500 Net cash provided by operating activities 6,500 Invasting Activities: Receipt from sale of land Payment for purchase of investments Net cash used for investing activities Financing Activities: 3,100 17,800 14,700 Receipt from issuance of common stock 11,000 Payment of dividends 5,200 5,800 Net decrease in cash Cash, January 1, 2016 Cash, December 31, 2016Step by Step Solution
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