(Appendix) During the current year, Nash's Business earned net income of ($ 56000). Depreciation expense of ($...

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(Appendix) During the current year, Nash's Business earned net income of \(\$ 56000\). Depreciation expense of \(\$ 11000\) was included in the calculation of net income. Nash's accounting records show the following beginning and ending balances in its current assets and current liabilities for the year.

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Required:
a Using the indirect method, prepare the cash flows from the operating activities section of Nash's cash flow statement for the current year.
b What does your answer to

(a) reveal compared with the business' net income?

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Accounting Information For Business Decisions

ISBN: 9780170253703

2nd Edition

Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons

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