Presented below are the financial statements of Nosker Company.

Question Description:

Presented below are the financial statements of Nosker Company.

Comparative Balance Sheets
December 31
Assets 2014 2013
Cash $34,420 $19,250
Accounts receivable 32,890 19,220
Inventory 26,940 20,770
Equipment 59,430 77,520
Accumulated depreciation—equipment (29,950 ) (23,690 )
   Total $123,730 $113,070
Liabilities and Stockholders’ Equity
Accounts payable $28,500 $ 16,860
Income taxes payable 7,380 8,260
Bonds payable 26,280 32,490
Common stock 18,570 14,010
Retained earnings 43,000 41,450
   Total $123,730 $113,070
Income Statement
For the Year Ended December 31, 2014
Sales revenue $242,110
Cost of goods sold 175,720
Gross profit 66,390
Operating expenses 24,740
Income from operations 41,650
Interest expense 3,650
Income before income taxes 38,000
Income tax expense 7,690
Net income $30,310

Additional data:

1. Dividends declared and paid were $28,760.
2. During the year equipment was sold for $8,310 cash. This equipment cost $18,090 originally and had a book value of $8,310 at the time of sale.
3. All depreciation expense, $16,040, is in the operating expenses.
4. All sales and purchases are on account.

Further analysis reveals the following.

1. Accounts payable pertain to merchandise suppliers.
2. All operating expenses except for depreciation were paid in cash.

Prepare a statement of cash flows for Nosker Company using the direct method. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Nosker Company
Statement of Cash Flows
For the Year Ended December 31, 2014
Cash Flows from Operating Activities<br>
Cash Receipts from Customers $
Less cash payments:
To Suppliers $
For Operating Expenses
For Income Taxes
For Interest 3650
Net Cash Provided by Operating Activities<br>
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Redemption of Bonds
Net Cash used by Financing Activities<br>
Net Increase in Cash<br>
Cash at Beginning of Period<br>
Cash at End of Period