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Prepare the cash flows from operating activities

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Reference no: EM132482917

Question - Sarasota Corporation had the following 2017 income statement.

Sales revenue $195,000

Cost of goods sold 132,000

Gross profit 63,000

Operating expenses (includes depreciation of $21,000) 45,000

Net income $18,000

The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $11,000, Accounts Payable $12,000.

Required - Prepare the cash flows from operating activities section of Sarasota's 2017 statement of cash flows using the indirect method.

Reference no: EM132482917

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