Question: Booth Manufacturing has provided the following financial statements.
Other information includes:
(a) Equipment with a book value of $125,000 was sold for $175,000 (original cost was $225,000); and
(b) Dividends of $225,000 were declared and paid.
Statement of Cash Flows: Direct Method Refer to the information for Booth Manufacturing above.
Required: Calculate operating cash flows using the direct method.