Business, 08.03.2021 14:00 Seaport

The accounting staff of Welter Company has assembled the following information for the year ended December 31, 2002
Cash sales
$ 450,000
Credit sales
3,100,000
Collections on accounts receivable
3.100,000
Cash transferred from the money market fund to the general bank account 170,000
Interest and dividends received
80,000
Purchases (all on account)
1,650,000
Payments on accounts payable to merchandise suppliers
1,400,000
Cash payments for operating expenses
1,130,000
Interest paid
160,000
Income taxes paid
72,000
Loans made to borrowers
750,000
Collections on loans (excluding receipts of interest)
250,000
Cash paid to acquire plant assets
2,000,000
Book value of plant assets sold
540,000
Loss on sales of plant assets
60,000
Proceeds from issuing bonds payable
3,000,000
Dividends paid
260,000
Cash and cash equivalents, Jan. 1
700.000
Prepare a statement of cash flows. Place brackets around amounts representing cash outflows. Use the
direct method of reporting cash flows from operating activities

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