K The accounting records for Houton Hench, Inc., for the year ended June 30, 2018, contain the following information: (Click the icon to view the information.) Requirement 1. Prepare Houton Hench, Inc.'s statement of cash flows for the year ended June 30, 2018. Use the direct method for cash flows from operating activities Complete the statement one section at a time, beginning with the cash flows from operating activities, (Use parentheses or a minus sign for numbers to be subtracted.) Cash flows from operating activities: Receipts: Houton Hench, Inc. Statement of Cash Flows Year Ended June 30, 2018 Total cash receipts Payments Total cash payments Net cash provided by (used for) operating activities More info a. I w b. C. d. en C e. un f. g. h. i. j. Purchase of fixed assets for cash, $54,100 Proceeds from issuance of common stock, $33,000 Payment of dividends, $44,400 Collection of interest, $3,000 Payment of salaries, $95,000 Proceeds from sale of fixed assets, $24,500 Collections from customers, $610,000 Cash receipt of dividend revenue, $4,600 Payments to suppliers, $371,800 Depreciation expense, $57,500 k. Proceeds from issuance of long-term notes, $40,000 1. Payments of long-term notes payable, $42,000 m. Interest expense and payments, $10,500 n. Income tax expense and payments, $37,000 do Cash balances: June 30, 2017, $39,700; June 30, 2018, $100,000 Print Done