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Cash balance, December 1, 2016 is $18.900 Transactions Dec. 1 The owner contributed an additional $7,800 cash to the business in exchange for capital 7 Purchased equipment for $1,700 on account. 14 Paid $20,000 cash for land. 17 Paid cash expenses: office rent, $1,400 employees' salaries, $1,500; utilities, 560. 23 The owner withdrew $2,300, 26 Earned service revenue for the month $5,000, receiving cash. SMART TOUCH LEARNING Statement of Cash Flows Month Ended December 31, 2016 Cash flows from Operatinctivities Receipts: Collections from customers 5000 Payments: For rent -1400 For salaries -1500 For til -60 -2960 Net cash provided (used) by operating activities 2040 Cash flows from Inven tivities Acquisition of Land 20000 Net cash provided (used) by 20000 Cash flows from financing activities We contribution 7800 Owner withdrawal -2300 Net cash provided (used) by financing activities 5500 Net increase (decrease) in cash 12460 Cash balance, December 1, 2016 18900 Cash balance, December 31, 2016 6400