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The following Cash T - account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. Cash

 

The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year.

Cash
Debit Credit
Balance, December 31, prior year $ 314,900
Receipts from customers 13,855,600 Payments for inventory $ 3,671,734
Receipts from dividends 4,849,460 Payments for wages 1,274,715
Receipts from land sale 5,126,572 Payments for rent 734,347
Receipts from machinery sale 1,634,961 Payments for interest 498,802
Receipts from issuing stock 3,560,889 Payments for taxes 1,039,170
Receipts from borrowing 5,999,475 Payments for machinery 5,168,139
Payments for stock investments 5,223,561
Payments for long-term notes payable 886,758
Payments for dividends 1,150,015
Payments for treasury stock 498,802
Balance, December 31, current year $ ?question mark
(1) Prepare a complete statement of cash flows for the current year using the direct method.
Note: Amounts to be deducted should be indicated with a minus sign.

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