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, Addisons 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 $127,900

Cost of goods sold 69,870

Gross margin 58,030

Selling expense 13,010

Administrative expense 8,080

Salaries expense 20,050

Depreciation expense 1,950

Interest expense 4,120 47,210

Income before gain and taxes 10,820

Gain on sale of land 960

Income tax expense 800

Net income $10,980

Addison Controls Comparative Balance Sheets As of December 31

2013 2012

Cash $5,140 $4,370

Accounts receivable, net 6,400 5,600

Inventory 31,800 34,210

Total current assets 43,340 44,180

Property, plant, & equipment, net 211,540 215,340

Total assets $254,880 $259,520

Accounts payable $3,420 $5,900

Accrued expenss 680 720

Salaries payable 1,880 1,530

Taxes payable 2,150 2,670

Bonds payable 60,050 50,030

Total liabilities 68,180 60,850

Common stock 125,070 125,070

Retained earnings 61,630 73,600

Total stockholders equity 186,700 198,670

Total liabilities & stockholders' equity $254,880 $259,520

Equipment with an original cost of $35,050 was sold for $20,390. The book value of the equipment was $19,430

. On June 1, 2013, the company purchased new equipment for cash at a cost of $17,580.

At the end of the year, the company issued bonds payable for $10,020 cash. The bonds will mature on December 31, 2017.

The company paid $22,950 in cash dividends for the year. Collapse question part

(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