A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $88,300 Cash received from sale of stock 24,300 Cash...

Extracted text: A summary of cash flows for Linda's Design Services for the year ended December 31 is shown below. Cash receipts: Cash received from customers $88,300 Cash received from sale of stock 24,300 Cash payments: Cash paid for expenses $26,100 Cash paid for land 45,800 Cash paid for supplies 330 Dividends 4,300 The cash balance as of January 1 $40,800 Prepare a statement of cash flows for Linda's Design Services for the year ended December 31. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Linda's Design Services Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Cash received from customers 88,300 Cash payments for expenses and supplies 26,100 X Net cash flows from operating activities 26,100


Extracted text: Cash flows used for investing activities: Cash flows from financing activities: Net cash flows from financing activities Cash balance, January 1 40,800 Cash balance, December 31 %24