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Required information The following information applies to the questions displayed below.) Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021 Accounts Payable $147,000 Accounts Receivable 17,000 Cash (balance on September 1, 2020) 77,000 Cash (balance on August 31, 2021) 82,000 Common Stock 100,000 Dividends 12,000 Equipment 757,000 Notes Payable 32,000 office Expense 105.000 Prepaid Rent 52,000 Retained Earnings (beginning) 412.000 salaries and Wages Expense 965,000 Salaries and Wages Payable 172,000 Sales Revenue 1,696,000 Supplies 29,000 Utilities Expense 540,000 Other cash flow information Additional investments by stockholders Cash paid to purchase equiptent Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 32,000 42,000 1,494,000 157.000 1,671,000 7,000 12,000 4. Prepare a statement of cash flows for the fiscal year ended August 31, 2021 (Cash outflows should be entered as negative amounts.) Answer is complete but not entirely correct. CHEESE FACTORY INCORPORATED Statement of Cash Flows For the Year Ended August 31, 2021 Cash Flows from Operating Activities Cash Received from Customers $ 1,671,000 Cash Paid to Suppliers and Employees (1,494,000) Answer is complete but not entirely correct. CHEESE FACTORY INCORPORATED Statement of Cash Flows For the Year Ended August 31, 2021 Cash Flows from Operating Activities Cash Received from Customers $ 1,671,000 Cash Paid to Suppliers and Employees (1,494,000) $ 177,000 Cash Provided by Operating Activities Cash Flows from Investing Activities Cash Paid to Purchase Equipment (42,000) (42,000) Cash Used in Investing Activities Cash Flows from Financing Activities Dividends Paid to Stockholders Cash Received from Borrowings Repayments of Borrowings Additional Investments by Stockholders 32,000 X (157,000) 7,000 (12,000) x Cash Used in Financing Activities Increase in Cash Cash at September 1, 2020 Cash at August 31, 2021 $ (130,000) 7,000 82,000 89,000 $

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