Cash Received from:
Interest on note receivable 6,000
Principal on note receivable 30,000
Sale of investments 50,000
Proceeds from note payable 100,000
Cash Paid for:
Purchase of inventory 160,000
Interest on note payable 5,000
Purchase of equipment 85,000
Salaries to employees 90,000
Principal on notes payable 25,000
Payment of dividends to shareholders 20,000
The balance of cash and cash equivalents at the beginning of 2011 was $17,000.
Prepare a statement of cash flows for 2011for Bluebonnet Bakers. Use the direct method for reporting operating activities.