The 2012 accounting records of Liz Ten Transport reveal these transactions and events.

InstructionsPrepare the cash flows from operating activities section using the direct method. (Not all of the items will beused.)

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Payment of interest Cash sales Receipt of dividend revenue Payment of income taxes Net income Payment of accounts payable for merchandise Payment for land Collection of accounts receivable Payment of salaries and wages Depreciation expense Proceeds from sale of vehicles Purchase of equipment for cash Loss on sale of vehicles Payment of dividends Payment of operating expenses $ 10.000 48.000 18.000 12,000 38.000 $182,000 53,000 16.000 12,000 22.000 3,000 14,000 28.000 115.000 74.000