Reference no: EM132193250

Question - Use the following income statement and information about selected current assets and current liabilities for Kimberline Industries to calculate the net cash provided or used by operating activities using the indirect method.

Sales $280,000

Cost Of Goods Sold $124,000

Gross Profits from sales $156,000

Operating Expenses:

Salaries and wages Expense $35,000

Depreciation expense $11,000

Rent expense $27,200

Interest expense $3,900 $77,100

Income from operations $78,900

Loss of sale of land $4,700

Net Income $74,200

Increases and decreases of current asset and current liability account, all of which relate to operating activities as following Change

Accounts receivable increase $3,600

Merchandise inventory decrease 1,700

Accounts payable increase 1,100

Salaries and wages payable decrease 2,600

How calculate the net cash provided used by operating activities using the indirect method?