Problem

Cash Flows from Operations (Direct)Presley , Inc., had the following positive and negative...

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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