(Answered) The following is a list of items to be included in the 2010

Accounting

The following is a list of items to be included in the 2010 statement of cash flows of the Estes Company:

1. Payments to suppliers, $31,500

2. Other operating receipts, $1,200

3. Payments of dividends, $4,000

4. Payments of income taxes, $5,000

5. Collections from customers, $68,400

6. Payment for purchase of equipment, $18,500

7. Payments to employees, $19,3008. Interest and dividends collected, $7,1009. Other operating payments, $90010. Proceeds from issuance of bonds, $11,30011. Payments of interest, $8,40012. Proceeds from sale of investments, $6,00013. Beginning cash balance, $28,400

Required:

1. Prepare the statement of cash flows using the direct method for operating cash flows.2. Under IFRS, which items may be classified differently than under U.S. GAAP?

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