Required Refer to the information in Problem 17-11A. Prepare a statement of cash flows for 2014 using the direct method to report cash inflows and outflows from operating activities.

Other information:

a. All accounts payable balances result from merchandise purchases.
b. All sales are credit sales.
c. All credits to accounts receivable are receipts from customers.
d. All debits to accounts payable result from payments for merchandise.
e. All debits and credits to accrued liabilities result from otherexpenses.

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Sangoma Technologies Inc. Post-Closing Trial Balance Sangoma Technologles Inc. Income Statement December 31 For Year Ended December 31, 2014 2014 2013 Revenues: S 62,400 S 76,800 30,400 Cash Sales. Expenses and other: Cost of goods sold.. $627,200 Receivables 41,600 Merchandise inventory. Property, plant and equipment. Accumulated depreciation.. Accounts payable. 27,200 230,400 35,200 $483,200 155,200 190,400 Other expenses. Depreciation expense. 64,000 49,600 11,200 52,800 25,600 62,400 Loss on sales of plant assets Total expenses and other....... 20,800 Accrued liabilities 6,400 684,800 S 57,600 Long-term notes payable 97,600 49,600 40,000 Net loss.... www..... Common shares 8,000 Retained eamings..... 89,600 163,200