Where does cash that is collected from customers appear on a statement of cash flows? . Operating activities section . Investing activities section c. Financing activities section d. Capital activities section 7. Fritz Corporation began the year with $900,000 in accounts receivable. During the year, sales revenue totaled $7,000,000. Fritz ended the year with $750,000 in accounts receiv-able. How much cash did Fritz collect from its customers during the year? a. $6,850,000 b. $7,150,000 c. $7,750,000 d. $7,900,000 110. Happy Toy Company began Year Nine with $1,000 in inventory and $4,500 in accounts payable. During the year, Happy Toy incurred cost of goods sold of $25,000. Happy Toy ended Year Nine with $2,700 in inventory and $3,800 in accounts payable. How much cash did Happy Toy pay for its merchandise purchases during Year Nine? a. $22,600 b. $24,000 c. $26,000 d. $27,400 14. Under U.S. GAAP, where are interest and dividends received classified on the statement of cash flows? a. Inflow in the investing section. b. Inflow in the financing section. c. Inflow in the operating section. d. It is not reported on the statement of cash flows. 18. During the current year, Rafael Corporation distributed dividends of $23,000, received cash by signing a note payable of $105,000, purchased a piece of equipment for $29,000 in cash, and received dividend income of $12,000. What is reported as Rafael's net cash inflow from financing activities for the year? a. $53,000 b. $65,000 c. $82,000 d. $94,000