Determining Operating Cash Flows-Direct Method Adjusted trial balances for Garboz Company, an industrial recycler, at December...

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Determining Operating Cash Flows-Direct Method Adjusted trial balances for Garboz Company, an industrial recycler, at December 31 of the current and prior year follow. Debits, December 31 Current Year Prior Year Cash $49,000 $44,800 Accounts receivable Inventory 46,200 42,000 43,400 65,800 Property, plant, and equipment 140,000 133,000 Discount on bonds payable Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total debits 6,300 7,000 350,000 532,000 198,100 240,800 191,800 211,820 6,020 3,640 28,560 $1,059,380 $1,366,540 85,680 Credits, December 31 Current Year Prior Year Allowance for doubtful accounts Accumulated depreciation $ 1,820 $ 1,540 23,100 21,000 Trade accounts payable 35,000 24,500 Income taxes payable 29,400 37,940 Deferred income tax liability 7,420 6,440 Callable bonds payable, 8% 63,000 28,000 Common stock 70,000 56,000 Additional paid-in capital 12,740 10,500 Retained earnings 62,580 90,440 Sales Total credits 754,320 1,090,180 $1,059,380 $1,366,540 Additional information 1. Purchased $7,000 of equipment in the current year. 2. Allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Assume no accounts receivable were written off or recovered during the year. Required What amounts are reported in the operating activities section of the statement of cash flows using the direct method for the current year ended December 31, for the following line items? Note: Do not use negative signs with your answers. a. Cash collected from customers $ 0 b. Cash paid to suppliers $ 0 c. Cash paid for interest $ 0 d. Cash paid for income taxes $ 0 e. Cash paid for selling expenses $ 0 Determining Operating Cash Flows-Direct Method Adjusted trial balances for Garboz Company, an industrial recycler, at December 31 of the current and prior year follow. Debits, December 31 Current Year Prior Year Cash $49,000 $44,800 Accounts receivable Inventory 46,200 42,000 43,400 65,800 Property, plant, and equipment 140,000 133,000 Discount on bonds payable Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Total debits 6,300 7,000 350,000 532,000 198,100 240,800 191,800 211,820 6,020 3,640 28,560 $1,059,380 $1,366,540 85,680 Credits, December 31 Current Year Prior Year Allowance for doubtful accounts Accumulated depreciation $ 1,820 $ 1,540 23,100 21,000 Trade accounts payable 35,000 24,500 Income taxes payable 29,400 37,940 Deferred income tax liability 7,420 6,440 Callable bonds payable, 8% 63,000 28,000 Common stock 70,000 56,000 Additional paid-in capital 12,740 10,500 Retained earnings 62,580 90,440 Sales Total credits 754,320 1,090,180 $1,059,380 $1,366,540 Additional information 1. Purchased $7,000 of equipment in the current year. 2. Allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Assume no accounts receivable were written off or recovered during the year. Required What amounts are reported in the operating activities section of the statement of cash flows using the direct method for the current year ended December 31, for the following line items? Note: Do not use negative signs with your answers. a. Cash collected from customers $ 0 b. Cash paid to suppliers $ 0 c. Cash paid for interest $ 0 d. Cash paid for income taxes $ 0 e. Cash paid for selling expenses $ 0