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The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers $ 390,000 Interest on notes receivable 8,500 Collection of

The following summary transactions occurred during 2021 for Bluebonnet Bakers:

Cash Received from:
Collections from customers $ 390,000
Interest on notes receivable 8,500
Collection of notes receivable 44,000
Sale of investments 24,000
Issuance of notes payable 125,000
Cash Paid for:
Purchase of inventory 185,000
Interest on notes payable 7,500
Purchase of equipment 70,000
Salaries to employees 75,000
Payment of notes payable 30,000
Dividends to shareholders 25,000

The balance of cash and cash equivalents at the beginning of 2021 was $16,000. Required: Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities. (Amounts to be deducted should be indicated with a minus sign.)

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Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: $ 0 Net cash flows from operating activities Cash flows from investing activities: 0 Net cash flows from investing activities Cash flows from financing activities: 0 0 Net cash flows from financing activities Net increase in cash Cash and cash equivalents, January 1 Cash and cash equivalents, December 31 $ 0

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