The following cash transactions occurred during the period.
INTEREST RECEIVED IN CASH $18,000
PAYMENT OF WAGES TO EMPLOYEES $35,000
PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000
DISTRIBUTION OF CASH DIVIDEND DECLARED LAST YEAR $25,000
Fill in the statement of cash flows on the left following US GAAP. Use the direct method for calculating cash flow from Operating Activities.
ACCORDING TO US GAAP
(USES:) PAYMENT OF WAGES TO EMPLOYEES $35,000, PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000
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