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Prepare the cash flows from operating activities

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Reference no: EM131643789

Question - Your answer is partially correct. Try again.  Sage Corporation had the following 2017 income statement.

Sales revenue $189,000

Cost of goods sold 113,000

Gross profit 76,000

Operating expenses (includes depreciation of $19,000) 47,000

Net income $29,000

The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $11,000. Prepare the cash flows from operating activities section of Sage's 2017 statement of cash flows using the direct method.

Reference no: EM131643789

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