Colby Company Has Provided the Following Selected Information for the Year

question 34

Essay

Colby Company has provided the following selected information for the year ended December 31, 2014:
Cash collected from customers was $392,000.
Cash received from stockholders in exchange for stock totaled $46,000.
Cash paid to suppliers was $183,000.
Cash paid to employees was $102,000.
Cash received from a long-term bank loan was $75,000.
Cash paid to stockholders for dividends was $17,000.
Cash received from sale of a building was $125,000.
Cash paid for rent was $19,000.
Cash received for interest and dividends was $4,000.
Cash paid for income taxes was $28,000.
Based on the selected information provided, how much was Colby's cash flow from operating activities?

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Definitions:

Cash Dividends

A rephrase: A form of profit-sharing where a corporation distributes a portion of its earnings to shareholders in the form of cash.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset over its life up to a specific date.

Office Equipment

Assets used in an office environment to facilitate operations, such as computers, printers, and furniture, which are subject to depreciation.

Cash Proceeds

The amount of money received from transactions such as sales, financing, or the sale of assets.