Tyra Company’s 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands).
|
TYRA COMPANY Income Statement For Year Ended December 31,2011 |
|
|
Sales revenue |
$412,000 |
|
Expenses |
|
|
Cost of goods sold |
244,000 |
|
Depreciation expense |
64,000 |
|
Salaries expense |
30,000 |
|
Rent expense |
20,000 |
|
Insurance expense |
5,200 |
|
Interest expense |
4,800 |
|
Utilities expense |
4,000 |
|
Net income |
$ 40,000 |
|
TYRA COMPANY Selected Balance Sheet Accounts |
||
|
At December 31 |
2011 |
2010 |
|
Accounts receivable |
$820 |
$700 |
|
Inventory |
272 |
296 |
|
Accounts payable |
480 |
520 |
|
Salaries payable |
280 |
220 |
|
Utilities payable |
40 |
0 |
|
Prepaid insurance |
28 |
36 |
|
Prepaid rent |
40 |
60 |
Required
Prepare the cash flows from operating activities section only of the company’s 2011 statement of cash flows using the indirect method.