Reference no: EM132779314
Question - Realtree Supplies Inc.'s current assets and liabilities at December 31, 2021 are as follows:
2021 2020
Accounts payable $8,400 $11,500
Accounts receivable 18,500 12,000
Cash 30,100 5,000
Interest payable 1,750 1,250
Inventory 4,500 8,500
Prepaid expenses 800 900
Salaries payable 1,600 3,000
Taxes payable 550 1,550
Realtree Supplies had profit of $83,500 in 2021. Included in the calculation of profit is depreciation of building and equipment in the amount of $45,000 and amortization of a patent in the amount of $1,000.
Required - Prepare the operating section of Realtree Supplies' cash flow statement for the year ended December 31, 2021, using the indirect method.
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