Katie’s Beauty shop Inc. had the following transactions in May 2014.

 Depreciation expense was 79,000

 Net income was 155,000

 AR increased by 10,000

 Inventory decreased by 25,000

 Sold a building for 800,000,

 Purchased Land for 320,000

 Prepaid rent increased by 22,500

 Sold common stock for 120,000

 Repaid a note payable for 68,900

 AP increased by 22,000

 Income tax payable decreased by 12,000

 Collected on a note receivable 75,600

 Loss on the sale of equipment was 2,000

Using the information above prepare the operating, investing and financing sections of the statement of cash flows

BONUS 3 points: Using the information above, what was the change in cash.

$798,100

Answer rating: 100% (QA)

Oper ating activities Net income 155 000 Dep reciation expense 79 000 L oss on sale of equipment 2 0... View the full answer