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The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31. Cash and cash equivalents, Jan. 1
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31. Cash and cash equivalents, Jan. 1 Cash and cash equivalents, Dec. 31 Cash paid to acquire plant assets $ 35,800 147,900 24,000 Proceeds from short-term borrowing Loans made to borrowers 10,000 3,600 Collections on loans (excluding interest) 4,000 Interest and dividends received 34,700 Cash received from customers 835,000 Proceeds from sales of plant assets 9,000 Dividends paid 55,000 Cash paid to suppliers and employees 616,000 Interest paid Income taxes paid 19,000 63,000 Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.) WYOMING OUTFITTERS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Cash flows from financing activities: $ 0 $ 0 0 0 0 Cash and cash equivalents, January 1,current year Cash and cash equivalents, December 31, current year $ 0
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