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Prepare the cash flows from operating activities

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Reference no: EM132075199

Question - The Income Statement for disclosed the following items for 2015:

Depreciation expense

22000

Gain on disposal of equipment

10700

Net Income

192000

Balances of the current assets and current liability accounts changed between December 31, 2014, and December 31, 2015, as follows:

Accounts Receivable

3430

Inventory

(1700)*

Prepaid Insurance

(620)*

Accounts Payable

(2300)*

Income taxes payable

490

Dividends payable

410

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.

Reference no: EM132075199

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