Question
The 2019 accounting records of Pape Transport reveal these transactions and events. Payment of interest $70,466 Payment of salaries and wages $373,470 Cash sales 338,237
The 2019 accounting records of Pape Transport reveal these transactions and events.
Payment of interest
$70,466
Payment of salaries and wages
$373,470
Cash sales
338,237
Depreciation expense - vehicles
112,746
Receipt of dividend revenue
126,839
Proceeds from sale of vehicles
5,721,849
Payment of income tax
84,559
Purchase of vehicles for cash
155,025
Profit
267,771
Loss on sale of vehicles
21,140
Payments for inventory
683,521
Payment of operating expenses
197,305
Payment for land
521,449
Retained earnings at the start of the year
507,500
Collection of accounts receivable
1,374,089
Retained earnings at the end of the year
531,100
Required
a) Prepare the cash flows from operating activities section for the year ended 31 December 2019 using the direct method.
b) How much was the payment of dividends?
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