Question: Neptune Strategy Inc provides consulting services In 20X1 net income

Neptune Strategy, Inc., provides consulting services. In 20X1, net income was $185,000 on revenues of $460,000 and expenses of $275,000. The only noncash expense was depreciation of $35,000. The company has no inventory. Accounts receivable increased by $5,000 during 20X1, and accounts payable and salaries payable were unchanged.
Prepare a statement of cash flows from operating activities. Use the direct method. Omit supporting schedules.

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  • CreatedFebruary 20, 2015
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