Compute the amount of cash inflows from operating activities

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Reference no: EM133542046

Question: The following accounts and corresponding balances were drawn from Marinelli Company's Year 2 and Year 1 year-end balance sheets. Account Title Year 2 Year 1 Accounts receivable $35,200 $31,600 Interest receivable 4,200 4,800 Other operating expenses payable 21,000 18,500 Salaries payable 6,500 7,200 The Year 2 income statement is shown next. Income Statement Sales $530,000 Salary expense (214,000) Other operating expenses (175,000) Operating income 141,000 Nonoperating items: Interest revenue 16,500 Net income $157,500

Required Use the direct method to compute the amount of cash inflows from operating activities. Use the direct method to compute the amount of cash outflows from operating activities.

Reference no: EM133542046

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