Format of a Statement of Cash Flows
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015:
Cash and cash equivalents, Jan. 1 | $ 35,800 |
Cash and cash equivalents, Dec. 31 | 74,800 |
Cash paid to acquire plant assets | 21,000 |
Proceeds from short-term borrowing | 10,000 |
Loans made to borrowers | 5,000 |
Collections on loans (excluding interest) | 4,000 |
Interest and dividends received | 27,000 |
Cash received from customers | 795,000 |
Proceeds from sales of plant assets | 9,000 |
Dividends paid | 55,000 |
Cash paid to suppliers and employees | 635,000 |
Interest paid | 19,000 |
Income taxes paid | 71,000 |
Using this information, prepare a statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.
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