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	$ 404,000
Receipts from customers	17,776,000	Payments for inventory	$ 4,710,640
Receipts from dividends	6,221,600	Payments for wages	1,635,392
Receipts from land sale	6,577,120	Payments for rent	942,128
Receipts from machinery sale	2,097,568	Payments for interest	639,936
Receipts from issuing stock	4,568,432	Payments for taxes	1,333,200
Receipts from borrowing	7,697,008	Payments for machinery	6,630,448
		Payments for stock investments	6,701,552
		Payments for long-term notes payable	1,137,664
		Payments for dividends	1,475,408
		Payments for treasury stock	639,936
Balance, December 31, current year	$ ?

Exercise 16-22B (Algo) Part 1

(1) Prepare a complete statement of cash flows for the current year using the direct method.