Question

Refer to the information about Sonad Company in Exercise 16-6. Use the direct method to prepare only the cash provided or used by operating activities section of the statement of cash flows for this company.
In Exercise 16-6, Changes in current asset and current liability accounts for the year that relate to operations


The following income statement and information about changes in noncash current assets and current liabilities are reported.
Accounts receivable . . . . . . . . . . $ 30,500 increase
Accounts payable . . . . . . . . . . . . $ 12,500 decrease
Merchandise inventory . . . . . . . . 25,000 increase
Salaries payable . . . . . . . . . . . . . 3,500decrease


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  • CreatedNovember 26, 2013
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