To prepare the statement of cash flows, accountants for Kemp Industrial, Inc., summarized 2012 activity in the
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1. Prepare the statement of cash flows of Kemp Industrial, Inc., for the year ended December 31, 2012, using the direct method for operatingactivities.
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Cash 15,600 Payment of dividends 60,100 Payment of interest Beginning balance Receipts of interest 62,700 Payment on accounts payable 275,400 11,600 Collections from customers441,300 Payment of salaries and wages 63,500 21,600 11,600 28,700 76,000 500 Issuance of common stock Payment for equipment Payment of operating expenses Payment of notes payable Payment of income tax Ending balance 84,800
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