The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts fron issuing stock Receipts from borrowing Cash $ 299,700 13,186,880 Payments for inventory 4,615,388 Payments for wages 4,879,116 Payments for rent 1,556,842 Payments for interest 3,389,008 Payments for taxes 5,709,884 Payments for machinery Payments for stock investments Payments for note payable Payments for dividends Payments for treasury stock $ $ 3,494,502 1,213, 186 698,900 474,725 989, 10 4,918,676 4,971,424 843,955 1,894,504 474,725 Balance, Dec. 31, current year (1) Prepare a complete statement of cash flows for the current year using the direct method (Amounts to be deducted should be indicated with a minus sign.) es THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash received from customers $ 13186,800 Cash paid for inventory 3,494,502 Cash paid for wages 1.213,186 Cash paid for rent 690,900 Cash paid for interest 474725 Cash paid for taxes 909,010 $ 20.057,123 Cash flows from investing activities Cash paid for dividends Cash received from sale of land Required information THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash received from customers $ 13,186,800 Cash paid for inventory 3,494 5021 Cash paid for wages 1.213,186 Cash paid for rent 698,900 Cash paid for interest 474,725 Cash paid for taxes 989,010 5 20,057,123 Cash flows from investing activities Cash paid for dividends Cash received from sale of land Cash received from sale of machinery Cash paid for purchases of machinery 0 Cash flows from financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash 0 20.057 123 $ $ 20.057,123