Solution-Prepare the operating activities section

Prepare the operating activities section

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Question - Sosa Company reported net income of $190,000 for 2017. Sosa Company also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 increase in prepaid expenses.

Required - Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method.

Reference no: EM132534458

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Prepare the operating activities section

Reference no: EM132534458

Reference no: EM132534458

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