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Statement of Cash Flows Shown below is selected information from the financial records of Mantle Corporation as of December 31, 2016: Inventory $165,000 Cash purchase
Statement of Cash Flows
Shown below is selected information from the financial records of Mantle Corporation as of December 31, 2016:
Inventory | $165,000 | Cash purchase of equipment | $29,000 | |
Cash collected from customers | 350,000 | Buildings, net | 810,000 | |
Equipment, net | 355,000 | Sales revenue | 910,000 | |
Retained earnings | 480,000 | Cash paid for operating activities | 205,000 | |
Cash dividends paid | 38,000 | Principal payments on notes payable | 41,000 | |
Salary expense | 215,000 | Common stock | 529,000 |
Required
Determine which of the above items will appear on the statement of cash flows and then prepare the statement for Mantle Corporation for the year ended December 31, 2016.
Use negative signs with your answers to show a cash outflow or decrease in cash.
MANTLE CORPORATION Statement of Cash Flows For Year Ended December 31, 2016 | ||
---|---|---|
Operating activities | ||
AnswerInventoryCash collected from customersEquipment, netRetained earningsCash dividends paidSalary expenseCash purchase of equipmentBuildings, netSales revenueCash paid for operating activitiesPrincipal payments on notes payableCommon stock | $Answer | |
AnswerInventoryCash collected from customersEquipment, netRetained earningsCash dividends paidSalary expenseCash purchase of equipmentBuildings, netSales revenueCash paid for operating activitiesPrincipal payments on notes payableCommon stock | Answer | |
Cash flow from operating activities | Answer | |
Investing activities | ||
AnswerInventoryCash collected from customersEquipment, netRetained earningsCash dividends paidSalary expenseCash purchase of equipmentBuildings, netSales revenueCash paid for operating activitiesPrincipal payments on notes payableCommon stock | Answer | |
Cash flow for investing activities | Answer | |
Financing activities | ||
AnswerInventoryCash collected from customersEquipment, netRetained earningsCash dividends paidSalary expenseCash purchase of equipmentBuildings, netSales revenueCash paid for operating activitiesPrincipal payments on notes payableCommon stock | Answer | |
Cash dividends paid | Answer | |
Cash flow for financing activities | Answer | |
Increase (Decrease) in cash | $Answer |
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