Question

Anika Book Distributors, Inc., reported net income of $415,000 for 2009. The company also reported depreciation expense of $75,000 and a gain of $6,250 on the sale of machinery. The comparative balance sheet shows an increase in accounts receivable of $1,500 for the year, a $4,100 increase in accounts payable, and a $2,175 decrease in prepaid expenses. Prepare the cash from operating activities section of the statement of cash flows for 2009 using the indirect method.



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  • CreatedSeptember 01, 2014
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