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Prepare the operating activities section of the statement

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Reference no: EM13589604

The income statement of Rodriquez Company is shown below.

RODRIQUEZ COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2012
Sales


$6,956,970
Cost of goods sold



Beginning inventory

$1,894,990

Purchases

4,466,700

Goods available for sale

6,361,690

Ending inventory

1,608,070

Cost of goods sold


4,753,620
Gross profit


2,203,350
Operating expenses



Selling expenses

449,180

Administrative expenses

707,740

1,156,920
Net income


$1,046,430

Additional information:

1.
Accounts receivable decreased $312,010 during the year.
2.
Prepaid expenses increased $173,870 during the year.
3.
Accounts payable to suppliers of merchandise decreased $268,140 during the year.
4.
Accrued expenses payable decreased $110,740 during the year.
5.
Administrative expenses include depreciation expense of $63,340.

Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Rodriquez Company, using the indirect method. (If an amount reduces the account balance then enter with negative sign.)

Reference no: EM13589604

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