The following summary transactions occurred during 2013 for Bluebonnet Bakers:Cash Received from:Customers………………..$380,000Interest on note receivable ………….6,000Principal on note receivable …………50,000Sale of investments ……………….30,000Proceeds from note payable …………100,000Cash Paid for:Purchase of inventory …………….160,000Interest on note payable …………….5,000Purchase of equipment …………..85,000Salaries to employees …………….90,000Principal on note payable ………….25,000Payment of dividends to shareholders ……..20,000The balance of cash and cash equivalents at the beginning of 2013 was $17,000.Required:Prepare a statement of cash flows for 2013 for Bluebonnet Bakers. Use the direct method for reporting operating activities.View Solution:
The following summary transactions occurred during 2013 for Bluebonnet Bakers



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