The income statement of Zamora Inc. reported the following condensed information.
|
ZAMORA INC. |
|
|
Revenues |
$560,000 |
|
Operating expenses |
400,000 |
|
Income from operations |
160,000 |
|
Income tax expense |
47,000 |
|
Net income |
$113,000 |
Zamora”s balance sheet contained these comparative data at December 31.
|
2012 |
2011 |
|
|
Accounts receivable |
$60,000 |
$75,000 |
|
Accounts payable |
35,000 |
48,000 |
|
Income taxes payable |
14,000 |
6,000 |
Zamora has no depreciable assets. Accounts payable pertain to operating expenses.
Instructions
Prepare the operating activities section of the statement of cash flows using the indirect method.