Use the following cash flow data of Haven Hardware for the year ended December 31, 2017. Cash Dividend $ 70,000 Purchase of Land $ 28,000 Cash Payment on Interest $ 20,000 Cash Payment on Salaries $ 90,000 Sales of Equipment $ 76,000 Retirement of Common Stock $ 50,000 Purchase of Equipment $ 60,000 Cash Payments to Suppliers $ 170,000 Cash Collections from Customers $ 500,000 Cash at the Beginning of the Year $ 100,000 What is the net increase or decrease in cash for Haven Hardware for 2017

$88,000 net increase

Explanation:

The Cash flow Statement can be used to determine the movement in cash during the Financial Period. This Statement shows Cash movement on three levels that is : the Operating Activities. Investing Activities and Financing Activities.

Cash Flow Statement for the year ended December 31, 2017

Cash Flow from Operating Activities

Collections from Customers                                   $ 500,000

Cash Payments to Suppliers and Employees      ($ 260,000)

Cash Generated from Operations                          $ 240,000

Cash Payment on Interest                                       ($ 20,000)

Net Cash from Operating Activities                       $ 220,000

Cash Flow from Investing Activities

Purchase of Equipment                                           ($ 60,000)

Sales of Equipment                                                   $ 76,000

Purchase of Land                                                     ($ 28,000)

Net Cash from Financing Activities                          ($12,000)

Cash Flow from Financing Activities

Dividend                                                                   ($ 70,000)

Common Stock                                                        ($ 50,000)

Net Cash Flow from Financing Activities               ($120,000)

Movement of Cash and Cash Equivalents               $88,000

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