Exercise 23-9

Shamrock Corp. uses the direct method to prepare its statement of cash flows. Shamrock trial balances at December 31, 2017 and 2016, are as follows.

December 31

Debits2017

2016

Cash$34,600

$31,700

Accounts receivable32,600

30,300

Inventory31,300

46,600

Property, plant, & equipment99,700

94,700

Unamortized bond discount4,500

5,000

Cost of goods sold250,100

378,000

Selling expenses140,600

171,400

General and administrative expenses137,700

152,200

Interest expense4,400

2,700

Income tax expense20,200

60,600

$755,700

$973,200

CreditsAllowance for doubtful accounts$1,300

$1,000

Accumulated depreciationplant assets16,400

14,900

Accounts payable24,900

15,400

Income taxes payable21,100

29,100

Deferred tax liability

5,300

4,600

8% callable bonds payable44,800

20,000

Common stock50,200

40,000

Paid-in capital in excess of par9,200

7,500

Retained earnings44,300

64,700

Sales revenue538,200

776,000

$755,700

$973,200

Additional information:

1.Shamrock purchased $5,000in equipment during 2017.2.Shamrock allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses.3.Bad debt expense for 2017 was $5,000, and write-offs of uncollectible accounts totaled$4,700.

Determine what amounts Shamrock should report in its statement of cash flows for the year ended December 31, 2017, for the following items.

(a)Cash collected from customers.$

(b)Cash paid to suppliers.$

(c)Cash paid for interest.$

(d)Cash paid for income taxes.$

(e)Cash paid for selling expenses.$