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Complete the cash flows from operating activities section

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Question - Bloom Corporation had the following 2012 income statement.

Sales

$200,000

Cost of goods sold

120,000

Gross profit

80,000

Operating expense (including depreciation of $21,000)

50,000

Net income

$30,000

The following accounts increased during 2012: accounts receivable $12,000; inventory $11,000; accounts payable $13,000. Complete the cash flows from operating activities section of Bloom's 2012 statement of cash flows using the direct method.

Reference no: EM131876948

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