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E23.11
Fairchild SA
Statement of Cash Flow
For the Year Ended December 31, 2019
(Indirect Method)
P23.4
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