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Determine net cash flows from operating activities

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Reference no: EM132635496

The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2011:

Cash and cash equivalents, Jan. 1. . . . $ 35,800

Cash and cash equivalents, Dec. 31 . . . 74,800

Cash paid to acquire plant assets . . 21,000

Proceeds from short-term borrowing . . 10,000

Loans made to borrowers . . . 5,000

Collections on loans (excluding interest) . . 4,000

Interest and dividends received . . . . 27,000

Cash received from customers . . 795,000

Proceeds from sales of plant assets . . 9,000

Dividends paid . . . . . 55,000

Cash paid to suppliers and employees . . 635,000

Interest paid . . . . . . 19,000

Income taxes paid . . . .. 71,000

Problem 1: Prepare a statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.

Reference no: EM132635496

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