Refer to the situation described in BE 4–11. Prepare the cash flows from investing and financing activities sections of HHC’s statement of cash flows. 

Data BE 4-11

The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): 

Cash received from: 

Customers..............................................$660,000 

Interest on notes receivable.................12,000 

Collection of notes receivable............100,000 

Sale of land..................................................40,000 

Issuance of common stock.................200,000 

Cash paid for: 

Interest on notes payable.....................18,000 

Purchase of equipment........................120,000 

Operating expenses..............................440,000 

Dividends to shareholders...................30,000 

Prepare the cash flows from operating activities section of HHC’s statement of cash flows using the direct method.