Cash Flows from Operations (Direct)
Presley , Inc., had the following positive and negative cash flows during the current year:
Positive cash flows: |
|
Received from customers | $270,000 |
Interest and dividends | 50,000 |
Sale of plant assets | 360,000 |
Negative cash flows: |
|
Paid to suppliers and employees | $127,000 |
Purchase of investments | 45,000 |
Purchase of treasury stock | 40,000 |
Determine the amount of cash provided by or used for operating activities by the direct method.
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