The following cash flows and other information pertain to Elon Company for 2020: Collections from customers...

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The following cash flows and other information pertain to Elon Company for 2020: Collections from customers Cost of goods sold Decrease in inventory Depreciation expense Dividends received Interest collected Required: $65,000 46,000 8,000 1.500 2,000 2,500 Net income Payments of interest Payments to suppliers Proceeds from sale of equipment Proceeds from sale of stock 12,000 3,500 14,000 15,000 25,000 Prepare the operating activities section of the statement of cash flows for 2020, using the direct method. The following cash flows and other information pertain to Elon Company for 2020: Collections from customers Cost of goods sold Decrease in inventory Depreciation expense Dividends received Interest collected Required: $65,000 46,000 8,000 1.500 2,000 2,500 Net income Payments of interest Payments to suppliers Proceeds from sale of equipment Proceeds from sale of stock 12,000 3,500 14,000 15,000 25,000 Prepare the operating activities section of the statement of cash flows for 2020, using the direct method.

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To prepare the operating activities section of the statement of cash flows using the direct method f... View the full answer