The Following Information Was Obtained from the Champion Company for the Year

question 180

Essay

The following information was obtained from the Champion Company for the year ending December 31, 20__.
Using the direct method, prepare a statement of cash flows.
$\begin{array}{|l|c|}\hline \text { Cash paid to suppliers } & \$ 289,000 \\\hline \text { Capital stock issued } & \$ 81,000 \\\hline \text { Equipment purchased } & \$ 58,000 \\\hline \text { Interest paid } & \$ 10,500 \\\hline \text { Cash received from customers } & \$ 936,000 \\\hline \text { Taxes paid } & \$ 28,000 \\\hline \text { Proceeds from long-term } & \\\hline \text { Borrowing } & \$ 116,000 \\\hline \text { Collections of loans made } & \$ 17,000 \\\hline \text { Interest received } & \$ 16,000 \\\hline \text { Proceeds from sale of equipment } & \$ 24,000 \\\hline \text { Dividends paid } & \$ 4,600 \\\hline \text { Loans made to borrowers } & \$ 29,000 \\\hline \text { Cash on hand } 1 / 01 / 20 & \$ 1,781,000 \\\hline \text { Cash on hand } 12 / 31 / 20 & \$ 2,551,900 \\\hline\end{array}$

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Definitions:

Priority

The level of importance or precedence assigned to tasks, operations, or data, determining the order in which they are processed or handled.

Array Type

Refers to a data structure that consists of a collection of elements, each identified by at least one array index or key.

Tag

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Data Type

A classification identifying the type of data that can be held and manipulated within a programming environment, such as integer, float, string, etc.