Preparing operating activities using the direct method
Happy Tot's Learning Center has assembled the following data for the year ended June 30, 2012:
|
Payments to suppliers
|
$ 117,000
|
|
Purchase of equipment
|
42,000
|
|
Payments to employees
|
72,000
|
|
Payment of note payable
|
25,000
|
|
Payment of dividends
|
7,000
|
|
Cash receipt from issuance of stock
|
18,000
|
|
Collections from customers
|
190,000
|
|
Cash receipt from sale of land
|
60,000
|
Requirement
1. Prepare the operatingactivities section of the business's statement of cash flows for the year ended June 30, 2012, using the direct method.