Refer to the statement of cash flows for part 1. Need help on part 2. Part 1 shown below.

 

 

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THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash received from customers Cash received from dividends Cash paid for inventory Cash paid for wages Cash paid for rent Cash paid for interest Cash paid for taxes Net cash used in operating activities Cash flows from investing activities Cash received from sale of land Cash received from sale of machinery Cash paid for purchases of machinery Cash paid for purchases of stock investments Net cash used in investing activities Cash flows from financing activities Cash received from issuing stock Cash received from borrowing Cash paid for note payable Cash paid for dividends Cash paid for treasury stock purchases Net cash used in financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash $ 16,790,400 5,876,640 (4,449,456) (1,544,717) (889,891) (604,454) (1,259,280) 6,212,448 1,981,267 (6,262,819) (6,329,981) 4,315,133 7,270,243 (1,074,586) (1,393,603) (604,454) $ 69 69 13,919,242 (4,399,085) 8,512,733 18,032,890 381,600 18,414,490 THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31 Cash flows from operating activities Cash received from customers Cash received from dividends Cash paid for inventory Cash paid for wages Cash paid for rent Cash paid for interest Cash paid for taxes Net cash used in operating activities Cash flows from investing activities Cash received from sale of land Cash received from sale of machinery Cash paid for purchases of machinery Cash paid for purchases of stock investments Net cash used in investing activities Cash flows from financing activities Cash received from issuing stock Cash received from borrowing Cash paid for note payable Cash paid for dividends Cash paid for treasury stock purchases Net cash used in financing activities Net increase (decrease) in cash Beginning balance of cash Ending balance of cash $ 16,790,400 5,876,640 (4,449,456) (1,544,717) (889,891) (604,454) (1,259,280) 6,212,448 1,981,267 (6,262,819) (6,329,981) 4,315,133 7,270,243 (1,074,586) (1,393,603) (604,454) $ 69 69 13,919,242 (4,399,085) 8,512,733 18,032,890 381,600 18,414,490

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Question 1 Firstly we need to prepare statement of cash flows which is shown as follows Thomas Corpo... View the full answer