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Direct method for operating cash flows

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Reference no: EM13538443

The following is a list of the items to be included in the preparation of the 2007 statement of cash flows for the Yellow Company:

1. Proceeds from sale of land, $2,100 
2. Payments of interest, $5,000 
3. Equipment acquired by capital lease, $7,200 
4. Proceeds from issuance of preferred stock, $11,000 
5. Other operating payments, $1,300 
6. Interest and dividends collected, $4,700 
7. Payments to employees, $20,300 
8. Payment for purchase of investments, $12,100
9. Collections from customers, $54,500
10. Payments of income taxes, $2,900
11. Payment of dividends, $5,200
12. Other operating receipts, $1,600
13. Payments to suppliers, $29,500
14. Beginning cash balance, $29,700

Required

Prepare the statement of cash flows using the direct method for operating cash flows.

Reference no: EM13538443

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