Reference no: EM132691757
Problem - Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows:
Income statement data (in thousands):
Net income $49,311
Gain on disposal of property 1,188
Depreciation expense 11,580
Other items involving noncash expense 1,383
Balance sheet data (in thousands):
Balance sheet data (in thousands): 1,746
Decrease in inventory 990
Increase in prepaid expenses 605
Decrease in accounts payable and other current liabilities 1,705
Required -
a. Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method for National Beverage Co.
b. Interpret your results in part (a).