The cash flow data of Palomba Pizza Stores for the year ended December 31, 2007, are as follows:
Cash payment ..................................................$35,000
Purchase of land ................................................14,000
Cash payment for interest ................................10,000
Cash payment for salaries ................................45,000
Sale of equipment ..............................................38,000
Retirement of common stock ...........................25,000
Purchase of equipment .....................................30,000
Cash payments to suppliers .............................85,000
Cash collection from customers .....................250,000
Cash at beginning of year ....................................50,000
Prepare a statement of cash flows for Palomba showing:
Net cash provided by operating activities.
Net cash provided by or used in investing activities.
Net cash provided by or used in financing activities.