Chapter 4, Problem 4.16E

Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.

a.    Cash used for purchase of office supplies, $2,400.

b.    Cash provided from consulting to customers, $50,600.

c.    Cash used for purchase of mining equipment, $83,000.

d.    Cash provided from long-term borrowing, $70,000.

e.    Cash used for payment of employee salaries, $25,000.

f.    Cash used for payment of office rent, $13,000.

g.    Cash provided from sale of equipment purchased in c. above, $23,500.

h.    Cash used to repay a portion of the long-term borrowing in d. above, $45,000.

i.    Cash used to pay office utilities, $5,300.

j.    Purchase of company vehicle, paving $11,000 cash and borrowing $16,000.

Required:

Calculate cash flows from operating activities.