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Klein Corporation reports the following summary data for the current year: Sales revenue totaled $128,000. Interest revenue for the period was $1,100. Interest expense for

Klein Corporation reports the following summary data for the current year:

  1. Sales revenue totaled $128,000.
  2. Interest revenue for the period was $1,100.
  3. Interest expense for the period was $400.
  4. Cost of goods sold for the period was $78,000.
  5. Operating expenses, all paid in cash (except for depreciation of $7,500), were $24,000.
  6. Income tax expense for the period was $4,000.
  7. Accounts receivable (net) increased by $5,000 during the period.
  8. Accounts payable increased by $2,500 during the period.
  9. Inventory at the beginning and end of the period was $17,500 and $12,500, respectively.
  10. Cash increased during the period by $2,500.

Assume all other current asset and current liability accounts remained constant during the period. Enter your answers as positive numbers.

  1. Compute the amount of cash collected from customers. $
  2. Compute the amount of cash paid for inventory. $
  3. Compute the amount of cash paid for operating expenses. $
  4. Compute the amount of cash flows provided by (used in) operations. $
  5. What must have been the combined amount of cash flows provided by (used in) investing and financing activities? $

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