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Question
Use the following information about the calendar-year cash flows of Park Company to prepare a statement of cash flows (direct method) and a schedule of noncash investing and financing activities.| Cash and cash equivalents, beginning-year balance | $ 18,000 |
| Cash and cash equivalents, year-end balance | 78,750 |
| Cash payments for merchandise inventory | 75,750 |
| Cash paid for store equipment | 15,750 |
| Cash borrowed on three-month note payable | 22,500 |
| Cash dividends paid | 12,000 |
| Cash paid for salaries | 39,000 |
| Cash payments for other operating expenses | 48,000 |
| Building purchased and financed by long-term note payable | 78,000 |
| Cash received from customers | 220,500 |
| Cash interest received | 8,250 |
Answer
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