Floyd & Sons Inc Prepare the Operating Activities Section of the Cash Flow Statement

question 115

Essay

Floyd & Sons Inc.gathered the following data from its accounting records for the year ended December 31,2017:
$\begin{array}{ll}\text { Amortization expense } & \$ 20,900 \\\text { Payment of income taxes } & 19,500 \\\text { Collections of accounts receivable } & 367,200 \\\text { Declaration of stock dividend } & 65,000 \\\text { Cash Received on sale of land } & 105,400 \\\text { Collection of dividend revenue } & 14,000 \\\text { Payments of salaries and wages } & 183,600 \\\text { Cash sales } & 23,700 \\\text { Payment of interest } & 19,400 \\\text { Interest received on investments } & 3,100 \\\text { Payments to suppliers } & 73,600\end{array}$ Prepare the operating activities section of the cash flow statement using the direct method.

---

Definitions:

Guan Yu

A legendary Chinese general from the late Eastern Han dynasty, venerated in Chinese folklore, who is celebrated for his loyalty, righteousness, and bravery.

The Romance of the Three Kingdoms

A classic Chinese historical novel attributed to Luo Guanzhong, detailing the turbulent years near the end of the Han Dynasty and the Three Kingdoms period.

Explanatory Inscription

Texts or engravings found on monuments, artworks, or artefacts that provide context, information, or explain the subject matter they accompany.

Scroll

A roll of paper, parchment, or other material, used in ancient and medieval times for writing documents.