Selected data derived from the income statement and balance sheet of Williams Sonoma, Inc., a specialty retailer

Question:

Selected data derived from the income statement and balance sheet of Williams Sonoma, Inc., a specialty retailer of kitchen products, for a recent year are as follows:
Income Statement Data (dollars in thousands):
Net earnings ..............$75,096
Depreciation .............81,594
Loss on sale of fixed assets .........3,950
Other noncash income ...........7,242
Balance Sheet Data (dollars in thousands):
Decrease in accounts receivable ........$ 6,025
Decrease in merchandise inventories ....33,793
Increase in prepaid expense ........4,511
Increase in accounts payable
and other accrued expenses ........4,156
Increase in income tax payable .......12,145
Prepare the cash flows from operating activities section of the statement of cash flows (using the indirect method) for Williams Sonoma for the year.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

Question Posted: