Use the data in Starter 17-5 to prepare Napanee Resources Inc.'s complete cash flow statement for the year ended June 30, 2014. Napanee uses the direct method for operating activities. Use Exhibit 17-12 on page 1069 as a guide, but you may stop after determining the net increase (or decrease) in cash.

Data From 17-5

Napanee Resources Inc. has assembled the following data for the year ended June 30, 2014.
Payment of dividends ............................................................... $ 12,000
Cash received from issuing shares .......................................... 40,000
Collections from customers ...................................................... 400,000
Cash received from sale of land ............................................... 120,000
Payments to suppliers ............................................................... 220,000
Purchase of equipment .............................................................. 80,000
Payments to employees ............................................................. 140,000
Payment of note payable ........................................................... 60,000

Prepare only the operating activities section of Napanee’s cash flow statement for the year ended June 30, 2014. Napanee uses the direct method for operating cash flows.

EXHIBIT 17-12 | Cash Flow Statement (Direct Method for Operating Activities) CAPILANO LTD. Cash Flow Statement For the Year Ended December 31, 2014 Cash flows from operating activities (In thousands) Receipts: Collections from customers $650 Interest received on notes receivable 24 Dividends received on investments in shares 22 Total cash receipts Payments: To suppliers for merchandise for resale To suppliers for operating expenses To employees $696 (270) (44) (140) (38) (36) For interest For income tax Total cash payments Net cash inflow from operating activities Cash flows from investing activities Acquisition of property, plant, and equipment, and intangible assets Loan to another company Cash received from selling property, plant, and equipment, and intangible assets Net cash outflow from investing activities Cash flows from financing activities Cash received from issuing common shares Cash received from issuing long-term debt Payment of long-term debt* Payment of dividends Net cash inflow from financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of 2014 Cash and cash equivalents at end of 2014 (528) 168 (735) (26) 149 (612) 242 226 (27) (41) 400 (44) 101 $ 57