How tlc should report cash flows from operating activities

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Trans link Corporation (TLC)began 2018 with accounts receivable, inventory, and prepaid expenses totaling $65,000. At the end of the year, TLC had a total of $78,000 for these current assets. At the beginning of 2018, TLC owed current liabilities of $42,000, and at year-end, current liabilities totaled $40,000. Net income for the year was $80,000. Included in net income were a $4,000 gain on the sale of land and depreciation expense of $9,000.

Question 1: Show how TLC should report cash flows from operating activities for 2014. TLC uses the indirect method

Reference no: EM132565799

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