Question

THIS IS THE 3RD TIME I POSTED THIS QUESTION PLEASE HELP ASAP

Reconcile Net Income and Net Cash Flows from Operations

Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions:

1. Terry Mason invested $30,125 in The Fifth Season in exchange for common stock.
2. Paid $4,410 on February 1 for an insurance premium on a 1-year policy.
3. Purchased supplies on account, $2,820.
4. Received fees of $59,505 during February.
5. Paid expenses as follows: wages, $18,600; rent, $3,100; utilities, $1,550; and miscellaneous, $1,705.
6. Paid dividends of $7,905.

There was $2,538 of supplies on hand as of February 28. Assume that adjusting entries for usage of supplies and expiration of prepaid insurance were recorded on February 28, 20Y4.

Based on the information above, determine the net cash flow from operating activities as of February 28, 20Y4. THIS WHAT I WANT NET CASH FLOW FROM OPERATING ACTIVITIES PLEASE

Answer 1

Using Direct method:
Cash received from Customers	59505
Cash paid for expenses:
Insurance expense	-4410
Wages	-18600
Rent	-3100
Utilities	-1550
Miscellaneous	-1705
Net cash flow from operating activities	30140