Question

Olympic, Inc., had the following positive and negative cash flows during the current year:
Positive cash flows:
Received from customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $240,000
Interest and dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000
Sale of plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330,000
Negative cash flows:
Paid to suppliers and employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $127,000
Purchase of investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,000
Purchase of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36,000
Determine the amount of cash provided by or used for operating activities by the direct method.



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  • CreatedApril 17, 2014
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