The following summary transactions occurred during 2021 for Bluebonnet Bakers:

The balance of cash and cash equivalents at the beginning of 2021 was $17,000.

Required:Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities.

Transcribed Image Text:

Cash Received from: $380,000 Collections from customers Interest on notes receivable 6,000 Collection of notes receivable 50,000 Sale of investments 30,000 Issuance of notes payable 100,000 Cash Paid for: Purchase of inventory 160,000 Interest on notes payable Purchase of equipment Salaries to employees 5,000 85,000 90,000 Payment of notes payable 25,000 Dividends to shareholders 20,000