The 2019 accounting records of Pape Transport reveal these transactions and events Payment of interest $70,466 Payment of salaries and wages $373,470Cash sales 338,237 Depreciation expense vehicles 112,746Receipt of dividend revenue 126,839 Proceeds from sale of vehicles 5,721,849Payment of income tax 84,559 Purchase of vehicles for cash 155,025Profit 267,771 Loss on sale of vehicles 21,140Payments for inventory 683,521 Payment of operating expenses 197,305Payment for land 521,449 Retained earnings at the start of the year 507,500Collection 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 c) During the year equipment was sold, and the company recorded a profit on sale of equipment in the income statement of $5,200 This equipment cost $ 50,500 originally and had a carrying amount of $6,500 at the time of sale What were the proceeds from the sale of the equipment The 2019 accounting records of Pape Transport reveal these transactions and events Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit Payments for inventory Payment for land Collection of accounts receivable $70,466 338,237 126,839 84,559 267,771 683,521 521,449 1,374,089 Payment of salaries and wages Depreciation expense vehicles Proceeds from sale of vehicles Purchase of vehicles for cash Loss on sale of vehicles Payment of operating expenses Retained earnings at the start of the year Retained earnings at the end of the year $373,470 112,746 5,721,849 155,025 21,140 197,305 507,500 531,100 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 c) During the year equipment was sold, and the company recorded a profit on sale of equipment in the income statement of $5,200 This equipment cost $50,500 originally and had a carrying amount of $6,500 at the time of sale What were the proceeds from the sale of the equipment

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The 2019 accounting records of Pape Transport reveal these transactions and events. Payment of interest $70,466 Payment of salaries and wages $373,470Cash sales 338,237 Depreciation

The 2019 accounting records of Pape Transport reveal these transactions and events. Payment of interest $70,466 Payment of salaries and wages $373,470Cash sales 338,237 Depreciation expense - vehicles 112,746Receipt of dividend revenue 126,839 Proceeds from sale of vehicles 5,721,849Payment of income tax 84,559 Purchase of vehicles for cash 155,025Profit 267,771 Loss on sale of vehicles 21,140Payments for inventory 683,521 Payment of operating expenses 197,305Payment for land 521,449 Retained earnings at the start of the year 507,500Collection 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? c) During the year equipment was sold, and the company recorded a profit on sale of equipment in the income statement of $5,200. This equipment cost $50,500 originally and had a carrying amount of $6,500 at the time of sale.What were the proceeds from the sale of the equipment? image text in transcribed

The 2019 accounting records of Pape Transport reveal these transactions and events. Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit Payments for inventory Payment for land Collection of accounts receivable $70,466 338,237 126,839 84,559 267,771 683,521 521,449 1,374,089 Payment of salaries and wages Depreciation expense - vehicles Proceeds from sale of vehicles Purchase of vehicles for cash Loss on sale of vehicles Payment of operating expenses Retained earnings at the start of the year Retained earnings at the end of the year $373,470 112,746 5,721,849 155,025 21,140 197,305 507,500 531,100 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? c) During the year equipment was sold, and the company recorded a profit on sale of equipment in the income statement of $5,200. This equipment cost $50,500 originally and had a carrying amount of $6,500 at the time of sale. What were the proceeds from the sale of the equipment