Use the data in Short Exercise and your results.

Happy Tot’s Learning Center has assembled the following data for the year ended June 30, 2014:

Payments to suppliers ............... $ 117,000

Cash payment for purchase of equipment ......42,000

Payments to employees .............72,000

Payment of notes payable ............25,000

Payment of dividends .............. 7,000

Cash receipt from issuance of stock ........ 18,000

Collections from customers ............ 190,000

Cash receipt from sale of land .......... 60,000

Cash balance, June 30, 2013 ............ 30,000

Prepare the business’s complete statement of cash flows for the year ended June 30, 2014, using the direct method for operating activities.