The income statement and additional data of Rolling Hils, Inc., follow Cick the leon to view the income statement.) Click the icon to view the additional data) Read the requirements Requirement 1. Prepare Rolling statement of cash flows and accompanying schedule of noncash investing and financing activities Report operating activities using the direct method Start by completing the cash flows from operating activities. The complete the rest of the statement of cash flows and accompanying schedule of noncash investing and financing activities (Use par minus sign for numbers to be subtracted and for a net decrease in cash) e s or Rolling Hills, Inc. Statement of Cash Flows (Direct Method) Year Ended April 30, 2018 Cash flows from operating activities: Receipts: Collection of dividend revenue Collections from customers Totalcash receipts Payments: To suppliers For income tax For interest Read the requirements Rolling Hills, Inc. Statement of Cash Flows (Direct Method) Year Ended April 30, 2018 Cash flows from operating activities: Receipts: Collection of dividend revenue 10,000 Collections from customers 236,500 Total cash receipts Payments: To suppliers 17,000 For income tax 9,000 For interest 4,800 To employees 44,000 246,500 174,800 Total cash payments Net cash provided by used for) operating activities 73.000 i Data Table Rolling Hills, Inc. Income Statement Year Ended April 30, 2018 Revenues: Sales revenue $ 222,000 10,000 $ 232,000 Dividend revenue Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 105,000 41,000 19,000 12,000 4,800 9,000 $ Interest expense Income tax expense 190,800 41,200 Net income Print Done Clear All the icon to view the additional data.) More Info dditional data: a. Collections from customers are $14,500 more than sales. b. Payments to suppliers are $1,700 less than the sum of cost of goods sold plus advertising expense. c. Payments to employees are $3,000 more than salary expense. d. Dividend revenue, interest expense, and income tax expense equal their cash amounts. e. Acquisition of plant assets is $137,000. Of this amount, $109,000 is paid in cash and $28,000 is financed by signing a long-term note payable. f. Proceeds from the sale of land totaled $20,000.. g. Proceeds from the issuance of common stock totaled $93,000. h. Payment of a long-term note payable is $14,000. i. Payment of dividends is $11,500. j. Cash balance, April 30, 2017, was $23,000. Print Done ds and then click Check Answer. Clear All