17.Motorcross Company reported the following statement of cash flows for the month ended September 30, 2007:
Motorcross Company
Statement of Cash Flows
For the Month Ended September 30, 2007
Cash collected from customers$470,000
Payments:
To suppliers of merchandise$290,000
To employees96,000
For income taxes44,000(430,000)
40,000
Purchase of equipment(116,000)
Sales of investments100,000(16,000)
Proceeds for issuing common stock200,000
Payment of dividends(30,000)170,000
$194,000
Required:
Determine (a) cash flow from operating activities, (b) cash flow from financing activities, (c) cash flow from investing activities, and (d) net increase (decrease) in cash.
18.Los Gatos Company had the following cash flows and other activities for the quarter ended March 31, 2007:
Depreciation expense$ 24,000
Paid for land75,000
Paid for merchandise540,000
Paid for income taxes42,000
Paid to employees180,000
Paid to owners45,000
Paid for rent27,000
Received from customers840,000
Received from issuing stock600,000
Received from sale of equipment30,000
Required:
Determine (a) net cash flow from operating activities, (b) net cash flow from investing activities, and (c) net cash flow from financing activities.