The accounting staff of Lambert Company has assembled the following information for the year ended December 31 of the current year. Cash sales Credit sales Collections on accounts receivable Cash transferred from the money market fund to the general bank account Interest and dividends received Purchases (all on account) Payments on accounts payable to merchandise suppliers Cash payments for operating expenses Interest paid Income taxes paid Loans made to borrowers Collections on loans (excluding receipts of interest) Cash paid to acquire plant assets Book value of plant assets sold Loss on sales of plant assets Proceeds from issuing bonds payable Dividends paid Cash and cash equivalents, Jan. 1 $ 871,000 2,500,000 2,195,000 250,000 100,000 1,800, eee 1,490,000 1,055,000 180,000 95,000 500,000 260,000 3,100,000 650,200 80,500 2,500,000 120,000 512,000 Required: a. Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. b-1. Compute the amount of collections from customers. b-2. Compute the amount of cash paid to suppliers and employees. b-3. Compute the amount of proceeds from sales of plant assets. Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. (List any deduction in cash and cash outflows as negative amounts.) LAMBERT COMPANY Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Cash received from customers Dividends paid Complete this question by entering your answers in the tabs below. REGA Req B1 Req2 Reg B3 Cash provided by operating activities $ 0 Compute the amount of collections from customers. Cash received from customers > 0 Complete this question by entering your answers in the tabs below. Cash disbursed for operating activities Net cash flow from operating activities Cash flows from investing activities: $ 0 0 Reg A Req B1 Req B2 Req B3 Compute the amount of cash paid to suppliers and employees. h paid to suppliers and employees 0 Cash flows from financing activities Complete this question by entering your answers in the tabs below. Req A Reg B1 Req B2 Reg B3 0 Compute the amount of proceeds from sales of plant assets. Proceeds from sales of plant assets |