Prepare cash flows from operating activities section
Information needed to prepare the Cash Flow from Operating Activities section of Par Corporation’s consolidated statement of cash flows is included in the following list:
|
Amortization of patents |
$ 16,000 |
|
Consolidated net income |
150,000 |
|
Decrease in accounts payable |
20,000 |
|
Depreciation expense |
120,000 |
|
Increase in accounts receivable |
105,000 |
|
Increase in inventories |
45,000 |
|
Loss on sale of land |
100,000 |
|
Noncontrolling interest share |
50,000 |
|
Noncontrolling interest dividends |
24,000 |
|
Undistributed income of equity investees |
5,000 |
Required: Prepare the Cash Flows from Operating Activities section of Par’s consolidated statement of cash flows under the indirect method.