Question

The income statement and additional data of Roling Corporation follow Ciklon to view the comment Con to view the tonal data Prepare Rings Corporation's statement of cash flows for the year ended and not talabalar) Year Ended June 2014 Data Table Cash Flows from Operating Acto Recipes Net Sales Reve Colections on Customers Dividends Received on investments Cost of Goods Gross Prote - X $ More 110.000 116000 Collections from customers a $15.000 anos Dividend even rest expense, and income tax expense que cash amounts Payments to pare the sum of cost of goods sold plus de $ 40.000 Toh Receipts Payments To se To Employees Forint For Income Tax d. Depreciation Expense Plates Advertising Expense Total Operating Expenses Operating Income Other Income and Expense) Dividend Revenue 1 33.500 Payment to employees w2.500 more than sales en Cash payment for the acquisition of plant is 100.000 Cash recipes from sale of land total $27.000 Cash receipts from sunce of common stock to $31.000 Payment of long termes payable is $12.000 Payment of dividend is 8.000 Cash balance 30, 2023, was $28.000 30.2004 was $41500 TC Payments Net Cash Provided by used for Operating Activities 10.500 (1.000 9500 Choose from any or enter any number in the input fields and then click Check To them and Expenses) Not Incore Botone Income Tax Print Done 3 at Income Tax Expert 43.000 9.000 34000 rema Check Answer

Answer 1

Solution

Rolling Hills Corporation

Statement of Cash Flows

$251,500 Rolling Hills Corporation Statement of Cash Flows (Direct Method) For the Year Ended June 30, 2024 Cash flow from operating activities: Collections from Customers $241,000 Dividends received in investments $10,500 Cash receipts Payments to: to suppliers $119,500 To employees $46,500 For interest $1,000 For income tax $9,000 Total cash payments Cash flow from operating activities Cash flow from investing activities: Acquisition of plant assets ($100,000) Proceeds from sale of land $27,000 Cash from investing activities Cash flow from financing activities: Issuance of common stock $31,000 Payment of long-term notes payable ($12,000) Payment of dividends ($8,000) Cash flow from financing activities Increase in cash Cash balance at June 30, 2023 Cash balance at June 30, 2024 $176,000 $75,500 ($73,000) $11,000 $13,500 $28,000 $41,500

Computations –

Collections from customers = 226,000 + 15,000 = 241,000

Payment for suppliers = cogs + advertising = 110,000 + 9,500 = 119,500

Payment to employees = 44,000 + 2,500 = 46,500

Payment for interest = 1,000

Payment for income tax = 9,000