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input to the budgeting process is last year?s statement of cash flows, wh
ich follows (amounts in thousands):
Wang Appliance Store
Statement of Cash Flows
2013
(in thousands)
Cash Flows from Operating Activities
Collections from customers
$51,000
Interest Received
500
Purchase of inventory
(36,000)
Operating expenses
(10,200)
Net cash provided by operating activities
5,300
Cash Flows from Investing Activities
Purchase of equipment
(3,5
00)
Purchase of investments
(5
00)
Sale of investments
1,
000
Net cash used for investing activities
(3,
000 )
Cash Flows from Financing Activities
Payment of long term debt
400)
Issuance of Stock
000
Payment of cash dividends
(500)
Net cash provided by financing activities
1,000
Cash
Increase (decrease) in Cash
300
Cash, beginning of year
(
2,
3,
2,900