Prepare a complete statement of cash flows for the current year using the direct method. (Amounts to be deducted should be indicated with a minus sign.)

Required information [The following information applies to the questions displayed below.) The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Cash $ 263,600 11,598,400 Payments for inventory 4,859,440 Payments for wages 4,291,408 Payments for rent 1,368,611 Payments for interest 2,980,789 Payments for taxes 5,022, 107 Payments for machinery Payments for stock investments Payments for note payable Payments for dividends Payments for treasury stock $ 3,023,576 1,067,853 614,715 417,542 369,880 4,326,203 4,372,597 742,298 962,667 417,542 Balance, Dec. 31, current year