The following schedule of information relates to Lumos, Inc. forthe year ended December 31, 2017:
Nonoperating cash receipts: | |
For sale of common stock | $ 65,280 |
From sale of land (original cost $111,600) | 94,800 |
From sale of intangible assets (at net book value) | 37,800 |
Nonoperating cash payments: | |
For purchase of common stock as investment | 1,020,000 |
To stockholders as dividends | 117,600 |
The company’s balance sheet reportsthe following:
| December 31, 2017 | December 31, 2016 |
Cash | $ 134,160 | $ 100,800 |
Accounts receivable | 470,400 | 424,800 |
Inventory | 61,680 | 80,400 |
Accounts payable | 450,000 | 576,000 |
Accrued liabilities | 336,000 | 438,000 |
The company’s 2017 income statementreports the following:
Depreciation expense | $114,000 |
Fixed asset impairment | 9,000 |
Net income | 1,088,160 |
Required:
Provide the following amounts thatwould appear on an indirect method statement of cash flows forDecember 31, 2017 for Lumos, Inc.:
a. Net cash provided (used) by operating activities:_____________________
b. Net cash provided (used) by investing activities:_____________________
c. Net cash provided (used) by financing activities:_____________________
