Springfields Pasta has the following financial statements:

Springfields Pasta Balance Sheets As of December 31, 2019, and 2020
		2020			2019
Assets
Cash		$245,886			$239,840
Accounts receivable		109,160			106,600
Inventory		88,469			98,991
Prepaid expenses		190,729			175,628
Plant and equipment		82,132			58,012
Accumulated depreciation		(14,964	)		(12,164	)
Total assets		$701,412			$666,907
Liabilities and Equity
Accounts payable		$196,543			$197,659
Accrued wages		32,317			28,974
Long-term notes payable		140,732			160,034
Common stock		76,720			76,720
Retained earnings		255,100			203,520
Total liabilities and equity		$701,412			$666,907

Springfields Pasta Income Statement For the Year Ended December 31, 2020
Sales				$	421,000
Less: Cost of goods sold					(164,190	)
Gross margin					256,810
Less operating expenses:
Wages and salaries expense		$168,400
Advertising expense		16,840
Misc. operating expenses		12,630
Depreciation expense		2,800			(200,670	)
Net income (loss)				$	56,140

At the end of 2020, Springfield purchased additional equipment for $24,120. Springfield paid dividends of $4,560 during the year.

Prepare a statement of cash flows for 2020 using the direct method. Assume that advertising is paid in cash. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Drop Down options for above statement:

Select a Name: December 31, 2020; For the Month Ended December 31, 2020; For the Year Ended December 31, 2020
Select an opening name for section one: Net cash provided by financing activities Net decrease in cash Cash End of 2020 Net cash used in financing activities; Net cash provided by operating activities; Cash Beginning of 2020 Cash flows from operating activities Cash flows from financing activities Net increase in cash Cash flows from investing activities Net cash used in operating activities Net cash provided by investing activities Net cash used in investing activities
Select a cash flow item: Increase in prepaid expenses Adjustments of net income to cash basis Payments to suppliers of inventory Purchase of equipment Payments for prepaid expenses Decrease in inventory Payments for misc. operating expenses Payments for advertising Sale of equipment Payments on long-term notes Depreciation Expense Net cash provided by operating activities Net cash used in operating activities Increase in inventory Payments for wages Increase in accrued wages Increase in accounts payable Dividends received Cash received from customers Decrease in prepaid expenses Decrease in accrued wages Net Income Decrease in accounts payable Decrease in accounts receivable Payments of dividends Increase in accounts receivable
Select a closing name for section one: Net cash used in financing activities Net increase in cash Net cash provided by operating activities Cash End of 2020 Net cash provided by financing activities Cash Beginning of 2020 Net cash provided by investing activities Cash flows from operating activities Net cash used in investing activities Net decrease in cash Cash flows from investing activities Net cash used in operating activities Cash flows from financing activities
Select an opening name for section two: Cash Beginning of 2020 Net cash provided by investing activities Cash flows from financing activities Net cash provided by operating activities Net cash used in investing activities Cash End of 2020 Cash flows from investing activities Net cash used in financing activities Cash flows from operating activities Net cash used in operating activities Net increase in cash Net cash provided by financing activities Net decrease in cash
Select a closing name for section two: Cash flows from financing activities Cash End of 2020Net decrease in cash Net cash used in investing activities Net cash provided by investing activities Net cash provided by financing activities Net cash used in operating activities Cash Beginning of 2020 Net increase in cash Cash flows from investing activities Net cash provided by operating activities Net cash used in financing activities Cash flows from operating activities
Select an opening name for section three: Net cash provided by operating activities Net cash used in operating activities Net cash provided by financing activities Net cash provided by investing activities Cash flows from financing activities Cash flows from investing activities Cash flows from operating activities Net cash used in investing activities Cash End of 2020 Cash Beginning of 2020 Net cash used in financing activities Net increase in cash Net decrease in cash
Select a closing name for section three: Net cash used in financing activities Net cash provided by investing activities Net decrease in cash Cash flows from financing activities Net cash provided by financing activities Net cash used in operating activities Net cash provided by operating activities Cash flows from investing activities Cash flows from operating activities Net increase in cash Cash End of 2020 Net cash used in investing activities Cash Beginning of 2020
Select a closing name for this statement: Cash flows from investing activities Net cash used in financing activities Net cash provided by operating activities Cash End of 2020 Net cash provided by financing activities Net cash used in operating activities Net decrease in cash Net increase in cash Cash Beginning of 2020 Cash flows from financing activities Net cash provided by investing activities Cash flows from operating activities Net cash used in investing activities

Drop Down options for above statement:

Choose the accounting period:

• December 31, 2020
• For the Month Ended December 31, 2020
• For the Year Ended December 31, 2020

Select a cash flow item:

• Decrease in accounts payable
• Net cash provided by operating activities
• Increase in accounts payable
• Increase in inventory
• Net Income
• Decrease in inventory
• Decrease in accrued wages
• Sale of equipment
• Cash received from customers
• Payments on long-term notes
• Adjustments of net income to cash basis
• Net cash used in operating activities
• Payments for prepaid expense
• Payments for advertising
• Payments of dividends
• Depreciation Expense
• Increase in accounts receivable
• Decrease in accounts receivable
• Increase in prepaid expenses
• Purchase of equipment
• Decrease in prepaid expenses
• Payments for misc. operating expenses
• Payments to suppliers of inventory
• Dividends received
• Increase in accrued wages
• Payments for wages

Select an opening name for subsection:

• Net cash used in operating activities
• Payments for wages
• Decrease in accounts payable
• Decrease in accounts receivable
• Decrease in inventory
• Payments on long-term notes
• Payments for misc. operating expenses
• Net Income
• Cash received from customers
• Increase in inventory
• Adjustments of net income to cash basis
• Payments of dividends
• Increase in accrued wages
• Payments to suppliers of inventory
• Increase in prepaid expenses
• Increase in accounts payable
• Decrease in accrued wages
• Dividends received
• Net cash provided by operating activities
• Payments for advertising
• Increase in accounts receivable
• Payments for prepaid expenses
• Decrease in prepaid expenses
• Depreciation Expense
• Sale of equipment
• Purchase of equipment

Springfield's Pasta Statement of Cash Flows-Direct Method $ $ Springfield's Pasta Partial Statement of Cash Flows-Indirect Method Operating activities $ $