10-MINUTE QUIZ C SECTION
Using the following information, complete the statement of cash flows for Nutritional Foods for the year ended December 31, 2018. Place parentheses around those figures in the statement representing cash outlays.
Payments for purchase of land $ 416,000
Proceeds from sale of land $58,000
Proceeds from issuance of capital stock $347,000
Proceeds from issuance of bonds payable $99,000
Payments to settle short-term debt $74,000
Interest and dividends received $49,500
Cash received from customers $1,502,000
Dividends paid $182,000
Cash paid to suppliers and employees $1,172,000
Interest paid $66,000
Income taxes paid $115,500
Cash and cash equivalents, January 1, 2018 $86,000
Cash and cash equivalents, December 31, 2018 ?
NUTRITIONAL FOODS
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flows from operating activities (direct method):
Cash received from customers $
_________
Cash provided by operating activities $
$
_________
Cash disbursed for operating activities (_______)
Net cash flows from operating activities $
Cash flows from investing activities:
$
_________
Net cash used by investing activities ( )
Cash flows from financing activities:
$
_________
Net cash provided by financing activities _______
Net increase (decrease) in cash $
Cash and cash equivalents, beginning of year _______
Cash and cash equivalents, end of year $______