Operating activities section of statement of cash flows

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Reference no: EM13258589

Villa Company reported net income of $195,000 for 2007. Villaalso reported depreciation expense of $45,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses.

Complete the operating activities section of the statement of cash flows for 2007. Use the indirect method.

Reference no: EM13258589

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