The Following is a list of items to be included in Estes Company’s 2016 statement of cash flows:
a. Payments to suppliers, $31,500
b. Other operating receipts, $ 1,200
c. Payments of dividends, $4,000
d. Payments of income taxes, $5,000
e. collections from customers, $68,400
f. Payment for purchase of equipment, $ 18,500
g. Payments to employees, $ 19,300
h. Interest and dividends collected, $7,100
i. Other operating payments, $900
j. Proceeds Iran issuance of bonds, $ 11,300
k. Payments of interest, $8,400
l. Proceeds from sale of investments, $6,000
m. Beginning cash balance, $28,400
1. Prepare the statement of cash flows using the direct method for operating cash flows.
2. Next Level Under IFRS, which items may be classified differently than under U.S. GAAP?