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  3. 3. prepare the statement of cash flows using the d

3. Prepare the statement of cash flows using the direct method (ignore the...

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3. Prepare the statement of cash flows using the direct method (ignore the note disclosure part) Use the following information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. $ 40,000 148,000 3,500 76,500 Cash and cash equivalents, Dec. 31 prior year-end Cash and cash equivalents, Dec. 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory 185,500 100,000 60,250 35,000 105,250 24,750 10,000 20,000 495,000 254,500

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