The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2011: 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
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2011:
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
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