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E 23.11
Fairchild SA
Statement of Cash Flow
For the Year Ended December 31, 2019
(Indirect Method)
P 23.4
Michaels Ltd.
Statement of Cash Flow
For the Year Ended December 31, 2019
(Direct Method)
Cash flows from operating activities
Cash receipts :
Cash received from customers $1,152,450a
Dividends received 2,400 $1,154,850
Cash payment :
Cash paid to suppliers 765,000b
Cash paid for operating expenses 226,350c
Taxes paid 38,400d
Interest paid 57,300e 1,087,050
Net cash provided by operating activities 67,800
a
Sales Revenue $1,160,000
Increase in Accounts Receivable (7,550)
Cash received from customers $1,152,450
b
Cost of Goods Sold $ 748,000
Increase in Inventory 7,000
Decrease in Accounts Payable 10,000
Cash paid to suppliers $ 765,000
c
Operating Expenses $ 276,400
Depreciation/Amortization Expense (40,500)
Decrease in Prepaid Rent (9,000)
Increase in Prepaid Insurance 1,200
Increase in Office Supplies 250
Increase in Wages Payable (2,000)
Cash paid for Operating Expenses $ 226,350
d
Income Tax Expense $ 39,400
Increase in Income Taxez Payable (1,000)
Taxes Paid $ 38,400
e
Interest Expense $51,750
Decrease in Bond Payable 5,550
Interest Expense $57,300