Thorpe Business' 20Xl cash flow statement as developed by its bookkeeper is given.

You determine that the amounts of the items listed on the statement are correct but are incorrectly classified.
Required:
Prepare a correct 20Xl cash flow statement for Thorpe Business.

Transcribed Image Text:

Cash Inflows: Receipt from sale of equipment Collections from customers Receipt from issuance of note payable Total inflows Cash Outflows: Payments to employees Withdrawals by owner Payment to purchase land Payments to suppliers Total outflows Increase in Cash THORPE BUSINESS Cash Flow Statement 31 December 20X1 Cash, 1 January 20X1 Cash, 31 December 20X1 $ 3.000 101 600 11 800 $ 48 600 10 000 16 000 38 800 $116 400 113 400 $ 3.000 88 00 $ 11 800