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The following information is available for Novak Corp. for 2017. Cash used to purchase treasury stock Cash dividends paid $126,984 57,552 Cash paid for
The following information is available for Novak Corp. for 2017. Cash used to purchase treasury stock Cash dividends paid $126,984 57,552 Cash paid for interest Net income 59,136 1,225,752 Sales revenue 2,117,280 Cash paid for taxes 261,360 Cash received from customers 1,494,504 Cash received from sale of building (at book value) 521,664 Cash paid for operating expenses 203,280 Beginning cash balance 29,040 Cash paid for goods and services 736,824 Cash received from issuing common stock 937,200 Cash paid to redeem bonds at maturity 528,000 Cash paid to purchase equipment 298,848 Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).)
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