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The following summary transactions occurred during 2013 for Bluebonnet Bakers: sh n Cash Received from: Customers $380,000 Interest on note receivable 6,000 Principal on note
The following summary transactions occurred during 2013 for Bluebonnet Bakers: sh n Cash Received from: Customers $380,000 Interest on note receivable 6,000 Principal on note receivable 50,000 Sale of investments 30,000 Proceeds from note payable 100,000 Cash Paid for: Purchase of inventory 160,000 Interest on note payable 5,000 2012 ) Purchase of equipment 85,000 mollia Salaries to employees 90,000 Principal on note payable 25,000 CHE Payment of dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2013 was $17,000. Required: Prepare a statement of cash flows for 2013 for Bluebonnet Bakers, assuming that dividends paid is classified as an operating cash flow, interest received is classified as an investing cash flow, and interest paid is classified as a financing cash flow. Use the direct method for reporting operating activities
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