Using the data for E13-33B, prepare the statement of cash flows using the direct method.

Data From E13-33B:-

Comfort Spas provides the following data for the year just ended December 31.

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Payment of long-term note payable. $ 4,500 Payments to employees. $ 63,000 Depreciation expense $ 4,800 Proceeds from sale of land $ 41,000 Purchase of equipment with cash $ 7,500 Payment of dividends. $ 14,000 Purchase of treasury stock. $ 11,500 Payments to suppliers. $ 62,000 Gain on sale of land.. $ 1,100 Increase in salaries payable $ 13,000 Cost of goods sold. $113,000 Proceeds from issuance of common stock ........ $ 14,500 Beginning balance, cash. $ 14,500 Sales revenue Payment of income tax. Collections from customers $ 9,000 $151,000 $169,000