The 2017 accounting records of Liz Ten Transport Ltd. reveal these transactions and events.

Instructions
Prepare the cash flows from operating activities section using the direct method. (Not all of the items will be used.)

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Payment of interest Cash sales Receipt of dividend Collection of accounts receivable Payment of salaries and wages Depreciation expense Proceeds from disposal of £10,000 54,000 £190,000 55,000 16,000 revenue Payment of income taxes Net income 18,000 16,000 38,000 plant assets Purchase of equipment for cash Loss on disposal of plant assets Payment of dividends Payment of operating expenses 12,000 22,000 3,000 14,000 28,000 ayment of accounts payab for merchandise 115,000 74,000 Payment for land