KSG, Inc., accountants have developed the following data from the company’s accounting records for the year ended June 30, 2012:
(a) Purchase of plant assets, $57,400.
(b) Cash receipt from issuance of notes payable, $48,100.
(c) Payments of notes payable, $45,000.
(d) Cash receipt from sale of plant assets, $23,500.
(e) Cash receipt of dividends, $4,300.
(f) Payments to suppliers, $371,300.
(g) Interest expense and payments, $13,500.
(h) Payments of salaries, $92,000.
(i) Income tax expense and payments, $38,000.
(j) Depreciation expense, $56,000.
(k) Collections from customers, $607,000.
(l) Payment of cash dividends, $45,400.
(m) Cash receipt from issuance of common stock, $65,900.
(n) Cash balance: June 30, 2011, $39,300; June 30, 2012, $125,500.
Requirement
1. Prepare KSG’s statement of cash flows for the year ended June 30, 2012. Use the direct method for cash flows from operating activities.