The company provided the following information (a)cash said for one year were $50,000

(b) sales on account totaled $60,000

(c) cost of goods sold was $5,000

(d) depreciation on equipment was $32,000

(e)inventory purchases on account totaled $63,000

(f) cash collections of accounts recievable were $38,000

(g) cash payments on accounts payable for inventory equaled $69,000

(h) rent expenses paid in cash was $11,000

(i) bonds payable were issued for $165,000 in cash

(j) land valued at $24,000 was acquired in exchange for $20,000 shares of common stock

(k) equipment was purchased for cash at the cost of $120,000

(l) $46,000 of dividends that had been declared the previous year were paid in cash

(m) dividends of $15,000 were declared but not yet paid

(n) interest totaling $6,000 was paid in cash during the year

(o) interest earned on investments totaled $4,000, all of which is collected in cash

(p)a machine used on the assembly line was sold for $12,000 in cash. The machine had a book value of $7,000

(q) income tax expenses for the year totaled $30,000. Of this amount $25,000 was current and $5,000 was deferred. Of the current amount $23,000 was paid in cash this year

1. Compute cash from operating activities assuming the direct method

2. Compute cash from investing activities

3.Compute cash from financing activities

Use the following information for practice 21-2 through 21-4

The company provides the following information

Dec 31 Jan 1

Accounts payable $68,600 $72,300

inventory 47,800 43,100

accounts recievable 95,000 99,700

(a) All purchases of inventory were on account

(b) Sales for the year were $989,400

(c) Cost of goods sold for the year was $449,200

2. Compute how much cash was collected from the customers during the year.

3. Compute how much inventory was purchased during the year. (Hint: remember that all purchases off inventory were on account.)

4. Using your answer to practice 21-3, compute how much cash was paid for inventory during the year.

5. During the year, the company expensed $140,600 in other operating expenses.The beginning and ending balances in the prepaid expenses account were $14,100 and $12,500, respectively. Compute the amount of cash paid for other operating expenses for the year.