The 2016 accounting records of Home and Away Travels Ltd reveal the following transactions and events. 

Required

Prepare the cash flows from the operating activities section of the statement of cash flows, using the direct method.  

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Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit Payment of accounts payable for inventory Payment for land $ 21000 84000 19600 22 400 53 200 140 000 103 600 Collection of accounts receivable $ 266000 Payment of salaries and wages Depreciation expense Proceeds from sale of aircraft Purchase of equipment for cash Loss on sale of aircraft Payment of dividends Payment of operating expenses 95 200 22 400 1136800 30 800 4200 19 600 28 000