Question
(Question 1). The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015: Cash and cash equivalents,
(Question 1). The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015:
Cash and cash equivalents, Jan. 1 | $ | 35,800 |
Cash and cash equivalents, Dec. 31 | 150,000 | |
Cash paid to acquire plant assets | 23,000 | |
Proceeds from short-term borrowing | 10,000 | |
Loans made to borrowers | 5,200 | |
Collections on loans (excluding interest) | 4,000 | |
Interest and dividends received | 32,400 | |
Cash received from customers | 835,000 | |
Proceeds from sales of plant assets | 9,000 | |
Dividends paid | 53,000 | |
Cash paid to suppliers and employees | 606,000 | |
Interest paid | 19,000 | |
Income taxes paid | 70,000 | |
Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.)
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