Refer to the information for Dunn Products Inc in Problem
Refer to the information for Dunn Products Inc. in Problem 11-45B.
In problem The income statement for Dunn Products Inc. is presented below.
The following balance sheet changes occurred during the year:
• Accounts receivable decreased by $85,150
• Inventory decreased by $138,620
• Prepaid expenses increased by $112,400
• Accounts payable decreased by $67,225
• Salaries payable increased by $18,300
Required:
Prepare the cash flows from operating activities section of the statement of cash flows, using the direct method.
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