Walton Company engaged in the following transactions for the year 2016. The beginning cash balance was $28,000 and the ending cash balance was $66,565.

1. Sales on account were $283,100. The beginning receivables balance was $93,900 and the ending balance was $77,200.

2. Salaries expense for the period was $53,530. The beginning salaries payable balance was $2,800 and the ending balance was $1,600.

3. Other operating expenses for the period were $125,750. The beginning other operating expenses payable balance was $4,210 and the ending balance was $7,953.

4. Recorded $19,250 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $13,620 and $32,870, respectively.

5. The Equipment account had beginning and ending balances of $205,280 and $238,080, respectively. There were no sales of equipment during the period.

6. The beginning and ending balances in the Notes Payable account were $51,400 and $148,900, respectively. There were no payoffs of notes during the period.

7. There was $5,832 of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $1,238 and $825, respectively.

8. The beginning and ending Merchandise Inventory account balances were $88,000 and $105,600, respectively. The company sold merchandise with a cost of $151,642 (cost of goods sold for the period was $151,642). The beginning and ending balances in the Accounts Payable account were $9,260 and $11,205, respectively.

9. The beginning and ending balances in the Notes Receivable were $5,000 and $10,500, respectively. Notes receivable result from long-term loans made to employees. There were no collections from employees during the period.

10. "The beginning and ending balances in the Common Stock account were $99,000 and $116,000, respectively. The increase was caused by the issue of common stock for cash.

11. Land had beginning and ending balances of $45,600 and $33,128, respectively. Land that cost $12,472 was sold for $9,200, resulting in a loss of $3,272.

12. The tax expense for the period was $7,670. The Taxes Payable account had a $1,090 beginning balance and an $1,004 ending balance.

13. The Investments account had beginning and ending balances of $22,200 and $25,800, respectively. The company purchased investments for $17,600 cash during the period, and investments that cost $14,000 were sold for $29,000, resulting in a $15,000 gain.

Required

1. Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Walton Company uses the direct method for showing net cash flow from operating activities.

2. Prepare a statement of cash flows using the direct method.

Complete this question by entering your answers in the tabs below Required ARequired B Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Walton Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. Select "No effect" if there is no effect (i.e., zero variance).) Show less Amount Statement of cash flows Transactions in Accounts receivable account 2. Salaries payable account ther operating expenses payable 4 preciation expense Decrease quipment account Increase 6 otes payable account No effect nterest payable account in Accounts payable in Notes receivable 10 in Common stock account in Land account 12 in Taxes payable account 13 in Investments account Required A Required B> Complete this question by entering your answers in the tabs below. Required ARequired B Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Walton Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. Select "No effect" if there is no effect (i.e., zero variance.) Show less Amount Statement of cash flows Transactions in Accounts receivable account in Salaries payable account in Other operating expenses payable 4 in Depreciation expense Financing activities in Equipment account Investing activities in Notes payable account No effect in Interest payable account Operating activities in Accounts payable in Notes receivable 10 in Common stock account in Land account in Taxes payable account 12 in Investments account Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Prepare a statement of cash flows using the direct method. (Amounts to be deducted and cash outflows should be indicated by a minus sign.) WALTON COMPANY Statement of Cash Flows For the Year Ended December 31, 2016 Cash Flows From Operating Activities Cash Receipts from: Disbursed for notes receivable Interest Inventory purchased Other operating expenses Total cash outflows Cash Flows from Investing Activities: 23 Walton Company engaged in the following transactions for the year 2016. The beginning cash balance was $28,000 and the ending cash balance was $66,565 1. Sales on account were $283,100. The beginning receivables balance was $93,900 and the ending balance was $77,200. 2. Salaries expense for the period was $53,530. The beginning salaries payable balance was $2,800 and the ending balance was $1,600. 3. Other operating expenses for the period were $125,750. The beginning other operating expenses payable balance was $4,210 and the ending balance was $7,953. 4. Recorded $19,250 of depreciation expense. The beginning and ending balances in the Accumulated Depreciation account were $13,620 and $32,870, respectively 5. The Equipment account had beginning and ending balances of $205,280 and $238,080, respectively. There were no sales of equipment during the period. 6. The beginning and ending balances in the Notes Payable account were $51,400 and $148,900, respectively. There were no payoffs of notes during the period. 7. There was $5,832 of interest expense reported on the income statement. The beginning and ending balances in the Interest Payable account were $1,238 and $825, respectively. 8. The beginning and ending Merchandise Inventory account balances were $88,000 and $105,600, respectively. The company sold merchandise with a cost of $151,642 (cost of goods sold for the period was $151,642). The beginning and ending balances in the Accounts Payable account were $9,260 and $11,205, respectively. 9. The beginning and ending balances in the Notes Recelvable were $5,000 and S10,500, respectively. Notes receivable result from long-term loans made to employees. There were no collections from employees during the period. 10. "The beginning and ending balances in the Common Stock account were $99,000 and $116,000, respectively. The increase was caused by the issue of common stock for cash. 11. Land had beginning and ending balances of $45,600 and $33,128, respectively. Land that cost $12,472 was sold for $9,200, resulting in a loss of $3,272. 12. The tax expense for the period was $7,670. The Taxes Payable account had a $1,090 beginning balance and an $1,004 ending balance 13. The Investments account had beginning and ending balances of $22,200 and $25,800, respectively. The company purchased investments for $17,600 cash during the period, and investments that cost $14,000 were sold for $29,000, resulting in a $15,000 gain. Required a. Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Walton Company uses the direct method for showing net cash flow from operating activities. b. Prepare a statement of cash flows using the direct method. Complete this question by entering your answers in the tabs below Required A Required B Determine the amount of cash flow for each item and indicate whether the item should appear in the operating, investing, or financing activities section of a statement of cash flows. Assume Walton Company uses the direct method for showing net cash flow from operating activities. (Any cash outflow should be indicated by a minus sign. Select "No effect" if there is no effect (i.e., zero variance).) Transactions Amount Statement of cash flows in Accounts receivable account in Salaries payable account 3. in Other operating expenses payable in Depreciation expense in Equipment account in Notes payable account in Interest payable account in Accounts payable in Notes receivable 10 in Common stock account in Land account 12. in Taxes payable account 13 in Investments account Required A Required B> WALTON COMPANY Statement of Cash Flows For the Year Ended December 31, 2016 Cash Flows From Operating Activites Cash Receipts from: Total cash inflows Cash Payments for Total cash outflows Cash Flows from Investg Activities Cash Flows from Financing Activities Ending cash balance Required B Required A