Given the following information and using the indirect method prepare the Cash Flows from Operating Activities section of the statement of cash flows.
|
End of Year |
Beginning of Year |
Change |
|
|
Cash |
$ 23,500 |
$ 37,400 |
(13,900) |
|
Accounts receivable (net) |
84,500 |
80,350 |
4,150 |
|
Inventories |
100,200 |
94,300 |
5,900 |
|
Prepaid expenses |
4,970 |
5,300 |
(330) |
|
Accounts payable (creditors) |
71,400 |
68,900 |
2,500 |
|
Salaries Payable |
5,320 |
6,450 |
(1,130) |
Net Income reported on the income statement for the current year was $134,800. Depreciation expense recorded on buildings and equipment was $27,400 for the year.