Prepare cash flowsfrom operating activities section

Reference no: EM13259070

The net income reported on the income statement for thecurrent year was $167,900. Depreciation recorded on equipmentand a building amounted to $41,300 for the year. Balances onthe current asset and current liability accounts at the beginningand end of the year are as follows:

                                                     Endof theyear    Beginningof the year
Cash                                  $27,900    $30,900
Accounts receivable(net)        75,100               70,250
Inventories    120,400    110,900
Prepaidexpenses    5,800                 6,000
Accounts payable (merchandisecreditors)     67,200    65,300
Salariespayable                                         7,150               7,950

INSTRUCTIONS:

Prepare the cash flowsfrom operating activities section of the statement ofcash flows, using the indirect method.

Reference no: EM13259070

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