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Determine the direct method for operating cash flows

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Reference no: EM131801677

The following are various cash flows and other information for Leer Company for 2013:

1. Payments of interest, $5,000

2. Depreciation expense, $22,700

3. Receipt from sale of land, $3,100

4. Payments of income taxes, $6,200

5. Beginning cash balance, $16,500

6. Decrease in receivables, $7,400

7. Interest and dividends collected, $6,300

8. Payments of dividends, $5,200

9. Decrease in accounts payable, $8,600

10. Payments to suppliers and employees, $50,300

11. Receipt from issuance of common stock, $11,000

12. Collections from customers, $61,700

13. Payment for purchase of investments, $17,800

14. Net income, $73,400

Required:

Using the direct method for operating cash flows, prepare Leer's 2013 statement of cash flows.

Reference no: EM131801677

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