Question

Baikal Forest Corp.’s 2014 income statement showed the following: net income, $291,200; depreciation expense, building, $36,000; depreciation expense, equipment, $6,560; and gain on sale of equipment, $5,600. An examination of the company’s current assets and current liabilities showed that the following changes occurred because of operating activities: accounts receivable decreased $14,480; merchandise inventory decreased $41,600; prepaid expenses increased $2,960; accounts payable decreased $7,360; and other current payables increased $1,120. Use the indirect method to calculate the cash flow from operating activities.



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  • CreatedJanuary 08, 2015
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