The following is a list of the items to be included in the preparation LO 21.6 of Yellow Company's 2016 statement of cash flows:
a. Proceeds from sale of land, $2,1 (X)
b. Payments of interest, $5,000
c. Equipment acquired by capital lease, $7,200
d. Proceeds from issuance of preferred stock, $11,000
e. Other operating payments, $1,300
f. Interest and dividends collected, $4,700
g. Payments to employees, $20,300
h. Payment for purchase of investments, $12,100
i. Collections from customers, $54,500
j. Payments of income taxes, $2,900
k. Payment of dividends, $5,200
l. Other operating receipts, $1,600
m. Payments to suppliers, $29,500
n. Beginning cash balance, $29,700
Required:
Prepare the statement of cash flows using the direct method for operating cash flows.