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Prepare wyatt cash flow statement using the direct method

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Reference no: EM132932167

Question - At the end of the year, Wyatt Company had the following information related to transactions in its cash account:

Payments for inventory $380,000

Collections on accounts receivables 500,000

Payments for interest 3,000

Payments for wages and salaries 174,000

Payments for purchase of land 45,000

Proceeds from sale of equipment 26,000

Payments for retirement of long-term debt 20,000

Proceeds from sale of common stock 100,000

Payments for taxes 55,000

Additionally, Wyatt had a cash balance at the beginning and ending of the year of $75,000 and $24,000, respectively.

Using this information, prepare Wyatt's cash flow statement using the direct method.

Reference no: EM132932167

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