Chapter 11, Problem 9SE

Operating activities—direct method (Learning Objective 4) 5-10 min.

Juarez Equipment, Inc., assembled the following data related to its cash transactions for the year ended June 30, 2018:

Payment of dividends..........................................................................................	$ 16,000
Proceeds from issuance of stock........................................................................	21,000
Collections from customers................................................................................	213,000
Proceeds from sale of land..................................................................................	61,000
Payments to suppliers........................................................................................	92,000
Purchase of equipment with cash.......................................................................	38,000
Payments to employees......................................................................................	67,000
Payment of long-term note payable....................................................................	41,000

Prepare Juarez Equipment s statement of cash flows for the year ended June 30, 2018. using the direct method. Juarez Equipment’s cash balance at June 30, 2017, was $23,000.