Question - Wong furniture company had a cash balance on December 31, 20x0, of 50,000 It´s net income for 20x1 was 361,000. It´s 20x1 transaction affecting income or cash
1. Sales of 1.600 all on credit. Cash collection from customer 1,350
2. The cost of items sold, $850. Purchases of inventory totaled $ 900; inventory and accounts payable were affected accordingly
3. Cash payments on trade accounts payable $ 775
4. Depreciation $ 48
6. Interest expenses, all paid in cash $ 11
7. Other expenses, all paid in cash $100
8. Income taxes accrued $40, income taxes paid $30
9. Bought plant and facilities for 335 cash
10. Issued debt for 110 cash
11. Paid cash dividends of $39
Prepare a statement of cash flow using the direct method for reporting cash flows from operating activities.