2. Salem Antiques had a cash balance on December 31, 20x0, of 150.000, is not income for 20x1 was 51.152.000. Its 20x1 transactions affecting income or cash were in thousands Click the icon to view the transactions.) Requirement 1. Prepare a statement of cash flows using the direct method for reporting cash rows from operating activities. Omit supporting schedules. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minussion for amounts to be subtracted Salem Antiques Statement of Cash Flows Yoar Ended December 31, 20X1 in thousands) Cash Flows from Operating Activities (1) Cash payments (4) 15 10) Total cash payments Net cash provided by used in) Operating activities Cash Flows from Investing Activities Cash Flows from Financing Activities re) ro) Norcon provided by used in financing activities Net increase (decrease in cash Can December 31, 20X0 Cash, December 31, 20X1 1. More info 1. Sales of $2.00, all on crot Cash collections from customers, 51.800 2. The cost of items sold, 5800. Purchases of inventory totaled 5910 inventory and accounts payable were affected accordingly 3.Cash payments on trade accounts payable $850 4. Ses and wage socrued, 250 paid in cash, 5245 5. Depreciation, $29 f Interest expense, al paid in cash, 515 7. Other experses, al puid in cash 531 8. Income tax cred, 520, income taxes paid in cash, 55 9. Bought plant and facilities for $72 cash 10. Isund for $100 cash 11. Paid cash dividends of 522 O Puchoses of (1) O O Cash payments for taxes Dividends paid Increase in inventory Cash collections from customers O Cash payments to employees increase in counts payable Increase in salaries and wages payable Cash payments for interest O Cash payments to suppliers Increase in accounts receivable O Proceeds from issue of long term debt O Cash payments for the expenses O Depreciation Increase in income taxes payable Proceeds from sale of fixed assets Purchases of foc met Prchase of these (2) O O Cash payments for res Dividends paid Increase in inventory O Cash collections from customers O Cash payments to employees increase in accounts payable Increase in salaries and wages payable Cash payments for interest O Cash payments to suppliers increase in accounts receivable Proceeds from issue of long-term debt O Cash payments for other expenses Depreciation Increase in income taxes payable Proceeds from sale of fixed assets OU Cash payments for taxes Dividends paid Increase in entory O Cash collections from customers O Cash payments to employees increase in accounts payable increase in salaries and wages payable Cash payments for interest Cash payments to suppliers Increase in accounts receivable O Proceeds from issue of long termet Cash payments for other expenses O Depreciation Increase income taxes payable Proceeds from sale of fired assets (4) O Cash payments for anos O Dividends paid Increase in inventory O Cash collections from customers O Cash payments to employees increase in accounts payable Increase in sales and wages payable O Cash payments for interes Cash payments to suppliers Increase in accounts receivable O Proceeds from of long term debit O Cash payments for other expenses Depreciation Increase in income taxes payable Proceeds from sale of fast Puthases of the OP Cash payments for taxes O Dividends paid increase in inventory Cash collections from customers O Cash payments to employees increase in accounts payable Once in salaries and wages able Cash payments for interest Cash payments to support Increase in accounts receivable O Proceeds from soflong term det Cipayment for other expenses O Depreciation Inom in income taxes payable Procesom of
