Terry Companys 1994 income statement and comparative balance sheets at December 31, 1994 and 1993, are as follows (SHOW YOUR WORK WITH THE ACCOUNTING TITLES):

Terry Company

Income Statement

For the Year Ended December 31, 1994

Sales $876,000

Dividend Income 5,000

$881,000

Cost of Goods Sold $486,000

Wages Expense 92,000

Advertising Expense 10,000

Depreciation Expense 22,000

Income Tax Expense 27,000

Loss on Sale of Investments 2,000 639,000

$242,000

Terry Company

Balance Sheet

Assets Dec. 31, 1994 Dec. 31, 1993

Cash $ 92,000 $ 22,000

Accounts Receivable 42,000 38,000

Inventory 107,000 141,000

Prepaid Advertising 17,000 19,000

Long-term Investments 30,000 41,000

Plant Assets 378,000 330,000

Accumulated Depreciation (183,000) (161,000)

Total Assets $483,000 $430,000

Liabilities and Stockholders Equity

Accounts Payable $ 27,000 $ 54,000

Wages Payable 6,000 12,500

Income Tax Payable 3,000 8,500

Common Stock 345,000 325,000

Retained Earnings 102,000 30,000

Total Liabilities and Stockholders Equity $483,000 $430,000

Cash dividends of $170,000 were declared and paid during 1994. Plant assets were purchased for cash, and later in the year, additional common stock was issued for cash. Investments costing $11,000 were sold for cash at a $2,000 loss.

1. Terrys cash flow from FINANCING Activities in 1994 was (3 points):

2. Terrys Cash flow from INVESTING Activities in 1994 was (3 points):

3. Terrys cash flow from OPERATIONS in 1994 was (6 points):

4. Cash Collected From Customers (3 points):

5. Determine the amount of free cash flows (3 points):