Indirect method-prepare cash flows from operating activities

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Reference no: EM13555785

Given the following information and using the indirect method prepare the Cash Flows from Operating Activities section of the statement of cash flows.


End of Year

Beginning of Year

Change

Cash

$ 23,500

$ 37,400

(13,900)

Accounts receivable (net)

84,500

80,350

4,150

Inventories

100,200

94,300

5,900

Prepaid expenses

4,970

5,300

(330)

Accounts payable (creditors)

71,400

68,900

2,500

Salaries Payable

5,320

6,450

(1,130)

Net Income reported on the income statement for the current year was $134,800. Depreciation expense recorded on buildings and equipment was $27,400 for the year.

Reference no: EM13555785

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