19.Sound Electronics reported the following statement of cash flows for the year ended April 30, 2007:
Sound Electronics
Statement of Cash Flows
For the Year Ended April 30, 2007
Cash collected from customers$200,000
Payments:
To suppliers of merchandise$75,000
To employees30,000
For income taxes16,000(121,000)
79,000
Purchase of equipment(25,000)
Sales of investments15,000(10,000)
Proceeds for issuing common stock75,000
Payment of dividends(13,000)62,000
$131,000
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.
20.Melchor Company had the following cash flows and other activities for the quarter ended March 31, 2007
Received from customers$195,000
Received from issuing stock75,000
Received from sale of equipment5,000
Depreciation expense6,000
Paid for land17,500
Paid for merchandise140,000
Paid for income taxes8,500
Paid to employees35,000
Paid to owners12,500
Paid for rent6,000
Required:
Determine (a) net cash flow from operating activities, (b) net cash flow from investing activities, and (c) net cash flow from financing activities.