Q the accounting staff of wyoming outfitters has assembled

Reference no: EM13350911

Q. The accounting staff of Wyoming Outfitters has assembled the subsequent information for the year ended 31^st December, 2012:

Cash and cash equivalents, January 1 $35,800

Cash and cash equivalents, December 31 $74,800

Cash paid to acquire plant assets $21,000 Investng

Proceeds from short-term borrowings $10,000 Financing

Loans made to borrowers $5,000Financing

Collections on loans (excluding interest) $4,000

Interest and dividend received $27,000

Cash received from customers $795,000

Proceeds from sale of plant asset $9,000

Dividends paid $55,000

Cash paid to suppliers and employees $635,000

Interest paid $19,000

Income taxes paid $71,000

(a) Using the above information, prepare a statement of cash flows. Include proper heading for the financial statement, and categorize the given information into the categories of operating, investing and financial activities.

(b) Evaluate the net cash flows from operating activities under direct method.

Reference no: EM13350911

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