Use the data in SE12-14 to prepare Phoenix Golf Club, Inc.€™s statement of cash flows for the year ended September 30, 2014. Phoenix uses the direct method for operating activities. In SE12-14, Phoenix Golf Club, Inc., has assembled the following data for the year ended September 30,2014:

Transcribed Image Text:

$112,000 suppliers... 124,000 Proceeds from issuance Payment of dividends Purchase of cquipment with cash Payment of note payabl.. Depreciation expense . h.... 29,000 of common stock 30,000 78,000 Sales revenue...281,000 36,000 Collections from customers.263,000 19,000 5,400 46,000 Payment of income tax.. 8,000 Purchase of treasury stock.