The summarized journal entries below show the total debits and credits to the Zenyatta Corporation’s Cash account during 2014.
Required Use the information to prepare a statement of cash flows for 2014. The cash flow from operating activities should be presented according to the direct method. In the statement, identify the entry that records each item of cash flow. Assume that the beginning balance of cash was $13,320. Analysis Component: Consult the statement of cash flows you have just prepared and answer the following questions: a. Of the three activity sections (operating, investing, or financing), which section shows the largest cash flow for the year 2014? b. What was the purpose of the largest investing cash outflow in 2014? c. Were the proceeds larger from issuing debt or equity in 2014? d. Did the corporation have a net cash inflow or outflow from borrowing activity in2014?