Net income was $120,000

Depreciation expense was $20,000

It sold a parcel of land that had a book value of $150,000 for a $30,000 gain

Long-term notes payable increased by $80,000

The company purchased equipment for $200,000

It paid cash dividends of $8,000

Accounts receivable increased by $44,500

Accounts payable increased by $65,000

Beginning cash was $240,000

Requirements: determine the following :

1. Cash flows from operating activities:

2. Cash flows from investing activities:

3. Cash flows from financing activities:

4. Total net cash flows for the year:

5. Ending cash balance: