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Problem 1: In order to prepare the statement of cash flows for Mash Corporation for 2019, the accountant has compiled the following data regarding cash flows:
Purchases of marketable securities
$107,000
Proceeds from sales of marketable securities
$152,000
Interest and dividends received
$81,600
Interest paid
$56,200
Taxes paid
$75,500
Dividends paid
$39,500
Proceeds from short-term borrowing
$161,500
Payments to settle short-term debts (principal repaid)
$98,500
Cash received from customers
$641,000
Cash paid to suppliers and employees
$513,000
Proceeds from issuing capital stock
$818,000
Purchases of plant assets
$528,000
Proceeds from sales of plant assets
$488,000
Cash and cash equivalents, beginning of year
$139,500
Problem 2: Based on the above information, prepare one complete statement of cash flows for Mash Corporation, showing the computation of net cash flows from operating activities by the direct method. Include a correct heading and presentation format.
Problem 3: Based on the statement of cash flows prepared from the above information, briefly explain if the company is generating enough cash to pay its obligations as they come due.
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