Questionthe dickinson company reported total income of

Reference no: EM13348537

Question:

The Dickinson Company reported total income of $155,000 for the present year. Depreciation recorded on buildings and equipment amounted to $65,000 for the year. Balances of the present asset and current liability accounts at the starting and end of the year are as follows:

End of Year Beginning of Year

Cash $20,000 $15,000

Accounts receivable 19,000 32,000

Inventories 50,000 65,000

Accounts payable 12,000 18,000

Instructions

Purpose the cash flows from the operating activities section of the statement of cash flows using the indirect method.

Reference no: EM13348537

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