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STATEMENT OF CASH FLOWS:  REPORTING THE EFFECTS OF OPERATING, INVESTING, AND FINANCING ACTIVITIES ON CASH FLOWS   T4-X

4.27 a. continued.

Interest PayableMortgage PayableCommon Stock

10120250

(9)2(10)11

8109250

Retained Earnings

140

(2)1044(1)

174

b.Sales Revenue$1,200,000

Less Increase in Accounts Receivable ($106,000 –

$93,000)(13,000)

Cash Collected from Customers during the Year$1,187,000

c.Cost of Goods Sold$(788,000)

Less Increase in Inventories ($162,000 – $151,000)(11,000)

Plus Increase in Accounts Payable for Inventory

($141,000 – $136,000)5,000

Cash Paid to Suppliers of Inventory during the Year$(794,000)

d.Interest Expense$(12,000)

Less Decrease in Interest Payable ($8,000 – $10,000)(2,000)

Cash Paid for Interest during the Year$(14,000)

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