Required information Exercise 16-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5 [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. Debit Balance, December 31, prior year Receipts from customers Receipts from dividends Receipts from land sale. Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Balance, December 31, current year Cash Credit $ 2,908,004 1,009,571 581,601 $ 249,400 10,973,600 Payments for inventory 3,840,760 Payments for wages 4,060,232 Payments for rent 1,294,885 Payments for interest 2,820,215 Payments for taxes 4,751,569 Payments for machinery Payhts for stock investments Payents for long-term notes payable Payments for dividends Payments for treasury stock $7 395,050 823,020 4,093,153 4,137,047 702,310 910,809 395,050 Exercise 16-22B (Algo) Part 1 (1) 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 (1) 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.) THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities $ 0 Cash flows from investing activities Required information Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash $ + 0 $ 0 $ 0 0