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Exercise 16-22B (Algo) Direct: Preparing statement of cash flows from Cash T-account LO P1, P3, P5

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The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year.

Cash
Debit	Credit
Balance, December 31, prior year	$ 253,900
Receipts from customers	11,171,600	Payments for inventory	$ 2,960,474
Receipts from dividends	3,910,060	Payments for wages	1,027,787
Receipts from land sale	4,133,492	Payments for rent	592,095
Receipts from machinery sale	1,318,249	Payments for interest	402,178
Receipts from issuing stock	2,871,101	Payments for taxes	837,870
Receipts from borrowing	4,837,303	Payments for machinery	4,167,007
		Payments for stock investments	4,211,693
		Payments for long-term notes payable	714,982
		Payments for dividends	927,243
		Payments for treasury stock	402,178
Balance, December 31, current year	$ ?question mark

Exercise 16-22B (Algo) Part 1

(1) Prepare a complete statement of cash flows for the current year using the direct method.

Note: Amounts to be deducted should be indicated with a minus sign.