Question: This cash flow status on page 4containsseveral errors. Prepare it correctly. CHAPMAN COMPANY Statement of Cash Flows October 31, 2020 Cash flows from operating activities

This cash flow status on page 4containsseveral errors. Prepare it correctly.

This cash flow status on page 4containsseveral errors. Prepare it correctly. CHAPMAN

CHAPMAN COMPANY Statement of Cash Flows October 31, 2020 Cash flows from operating activities Cash received from customers $1,238,250 Cash payments: To suppliers (684,000) To employees (276,850) For other expenses (10,150) For dividends (105,000) For income taxes (43,000) (1,119,000) Net cash provided by operating activities $ 119,250 Cash flows from investing activities Purchase of plant assets (28,000) Sale of trading securities 15,000 Cash dividends received 12,000 Net cash used by investing activities (1,000) Cash flows from financing activities Cash received From common stock issue 20,000 From sale of bonds held to maturity 50,000 Cash paid: For interest (73,000) To retire bonds payable (30,000) Net cash used by financing activities (33,000) Net increase in cash $ 85,250 Cash, November 1, 2019 20,000 Cash, October 31, 2020 105,250

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