Question
Ojeda Corporation had the following cash flows during 2003. The company uses the direct method of preparing a statement of cash flows. Cash receipt from
Ojeda Corporation had the following cash flows during 2003. The company uses the direct method of preparing a statement of cash flows. Cash receipt from the issuance of stock ................................................ $20,000 Cash received from customers .............................................................. 9,000 Dividends received on long-term investments ...................................... 4,000 Cash paid for wages .............................................................................. 7,000 Cash paid for insurance ......................................................................... 500 Cash paid for dividends ........................................................................ 3,000 Cash paid to purchase building ............................................................. 30,000 Loan made to another company ............................................................ 10,000 Given this information, net cash inflow (outflow) from operating activities is: a. $8,500 b. $5,500 c. $3,500 d. $15,000
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