The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from:Collections from customers $380,000Interest on notes receivable 6,000Collection of notes receivable 50,000Sale of investments 30,000Issuance of notes payable 100,000Cash Paid for:Purchase of inventory 160,000Interest on notes payable 5,000Purchase of equipment 85,000Salaries to employees 90,000Payment of notes payable 25,000Dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2021 was $17,000.Required:Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
The following summary transactions occurred during 2021 for Bluebonnet Bakers:
Cash Received from:
Collections from customers $380,000
Interest on notes receivable 6,000
Collection of notes receivable 50,000
Sale of investments 30,000
Issuance of notes payable 100,000
Cash Paid for:
Purchase of inventory 160,000
Interest on notes payable 5,000
Purchase of equipment 85,000
Salaries to employees 90,000
Payment of notes payable 25,000
Dividends to shareholders 20,000
The balance of cash and cash equivalents at the beginning of 2021 was $17,000.
Required:
Prepare a statement of
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