The accounting records of Jasmine Pharmaceuticals, Inc., reveal the following:

Required
Compute cash flows from operating activities by the direct method. Use the format of the operating activities section of Exhibit 12-13. Also evaluate Jasmine's operating cash flow. Give the reason for your evaluation.

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Payment of salaries and Net in $34,000 $34,000 Payment of income tax... 13,000 wages 22,000 Depreciatio Decrease in current Collection of dividend revenue. 7,000 16,000 38,000 5,000 37,000 iabilities.20,000 Payment of interest Cash sal .. 27,000 Loss on s Increa se in current assets other than cs. sale of land . Payment of dividends... 12,000 Acquisition of land Collection of accounts receivable Payment of accounts paya ble 93,000 54,000