Use the data in Starter 17-6 to prepare Napanee Resources Inc.'s complete cash flow statement for the year ended June 30, 2017. Napanee uses the direct method for operating activities. But you may stop after determining the net increase (or decrease) in cash.
In starter 17-6
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