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The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2015 and December 31, 2015: January 1, 2015 December 31,

The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2015 and December 31, 2015:

January 1, 2015 December 31, 2015

Accounts receivable 42,000 36,000

Inventory 25,000 28,000

Accounts payable 35,000 31,000

Salaries payable 1,000 2,000

Investments 34,000 48,000

Land 60,000 80,000

Mortgage payable 100,000 50,000

Common stock 110,000 130,000

Retained earnings 20,000 38,000

The following information was taken from Buckeye Company's 2015 income statement:

Sales revenue $420,000

Cost of goods sold $300,000

Salaries expense $90,000

Gain on sale of land $2,000

Net income $ 32,000

It is known that during 2015 Buckeye Company sold land having a cost of $3,000.

1.) Calculate the amount of cash paid to employees for salaries during 2015.

2.)Calculate the amount of cash paid to suppliers for purchases of inventory during 2015.

3.)Calculate the net cash flow from financing activites for 2015.

4.) Calculate the cash collected from customers during 2015.

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