Kate Petusky prepared Addison Controls? balance sheet and income statement for 2013. Before she could complete the statement of cash flows, she had to leave town to attend to a family emergency. Because the full set of statements must be provided to the auditors today, Addison?s president, Lance Meyers, has asked you to prepare the statement of cash flows. Meyers has provided you with the balance sheet and income statement that Petusky prepared, as well as some notes she made:

Addison Controls Income Statement For the Year Ended December 31, 2013
Sales revenue	$127,940
Cost of goods sold	69,800
Gross margin	58,140
Selling expense	13,060
Administrative expense	8,040
Salaries expense	20,030
Depreciation expense	1,950
Interest expense	4,050	47,130
Income before gain and taxes	11,010
Gain on sale of land	960
Income tax expense	860
Net income	$11,110

Addison Controls Comparative Balance Sheets As of December 31
2013	2012
Cash	$5,190	$4,390
Accounts receivable, net	6,310	5,530
Inventory	31,730	34,220
Total current assets	43,230	44,140
Property, plant, & equipment, net	211,530	215,380
Total assets	$254,760	$259,520
Accounts payable	$3,430	$5,900
Accrued expenses	650	710
Salaries payable	1,870	1,520
Taxes payable	2,160	2,620
Bonds payable	60,020	50,070
Total liabilities	68,130	60,820
Common stock	125,030	125,030
Retained earnings	61,600	73,670
Total stockholders? equity	186,630	198,700
Total liabilities & stockholders' equity	$254,760	$259,520

?	Equipment with an original cost of $35,060 was sold for $20,380. The book value of the equipment was $19,420.
?	On June 1, 2013, the company purchased new equipment for cash at a cost of $17,520.
?	At the end of the year, the company issued bonds payable for $9,950 cash. The bonds will mature on December 31, 2017.
?	The company paid $23,180 in cash dividends for the year.

(a) Calculate the following amounts:

a.	Collections from customers
b.	Payments to suppliers
c.	Payments to employees
d.	Payments for operating expenses
e.	Payments for income taxes

Problem 13-28 (Part Level Submission) Kate Petusky prepared Addison Controls' balance sheet and income statement for 2013. Before she could complete the statement of cash flows, she had to leave town to attend to a family emergency. Because the full set of statements must be provided to the auditors today, Addison's president, Lance Meyers, has asked you to prepare the statement of cash flows. Meyers has provided you with the balance sheet and income statement that Petusky prepared, as well as some notes she made: Addison Controls Income Statement For the Year Ended December 31, 2013 Sales revenue $127,940 Cost of goods sold 69,800 Gross margin 58,140 Selling expense 13,060 Administrative expense Salaries expense 8,040 20,030 Depreciation expense 1,950 Interest expense 4,050 Income before gain and taxes 47,130 11,010 Gain on sale of land 960 Income tax expense 860 Net income $11,110 Addison Controls Comparative Balance Sheets As of December 31 Cash Accounts receivable, net Inventory Total current assets Property, plant, & equipment, net Total assets Accounts payable Accrued expenses Salaries payable Taxes payable Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities & stockholders' equity 2013 2012 $5,190 6,310 31,730 $4,390 5,530 34,220 43,230 211,530 44,140 215,380 $254,760 $259,520 $3,430 650 1,870 2,160 60,020 $5,900 710 1,520 2,620 50,070 68,130 60,820 125,030 61,600 125,030 73,670 186,630 198,700 $254,760 $259,520 Equipment with an original cost of $35,060 was sold for $20,380. The book value of the equipment was $19,420. On June 1, 2013, the company purchased new equipment for cash at a cost of $17,520. At the end of the year, the company issued bonds payable for $9,950 cash. The bonds will mature on December 31, 2017. The company paid $23,180 in cash dividends for the year. (a) Calculate the following amounts: a. Collections from customers b. Payments to suppliers c. Payments to employees d. Payments for operating expenses e. Payments for income taxes