Required information Skip to question [ The following information applies to the questions displayed below. ] Portions
Fantastic news! We've Found the answer you've been seeking!
Question:
Required information
Skip to question
The following information applies to the questions displayed below.
Portions of the financial statements for Parnell Company are provided below.
PARNELL COMPANY
Income Statement
For the Year Ended December
$ in thousands
Revenues and gains:
Sales $
Gain on sale of building $
Expenses and loss:
Cost of goods sold $
Salaries
Insurance
Depreciation
Interest expense
Loss on sale of equipment
Income before tax
Income tax expense
Net income $
PARNELL COMPANY
Selected Accounts from Comparative Balance Sheets
December and
$ in thousands
Year Change
Cash $ $ $
Accounts receivable
Inventory
Prepaid insurance
Accounts payable
Salaries payable
Deferred tax liability
Bond discount
Required:
Prepare the cash flows from operating activities section of the statement of cash flows for Parnell Company using the direct method.
Note: Enter your answers in thousands ie should be entered as Amounts to be deducted should be indicated with a minus sign.
Posted Date: