Using the data below, complete the Operaoting section of the Cash Flow Statement using the Indirect...

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Using the data below, complete the Operaoting section of the Cash Flow Statement using the Indirect Method. Note that no dividends were declared or paid this period. Comparative Balance Sheet 2020 $89,800 Cash Accounts Receivable Inventory Prepaid Expenses 2 Equipment 3 Acc. Depr- Equipment 4 Total Assets 2021 $46,250 $52,250 $96,750 $4,325 $825,000 -$721,875 $302,700 $41,230 $84,750 $4,975 $825,000 -$618,750 $427,005 6 Accounts Payable 7 Wages Payable 8 Income Taxes Payable 9 Long Term Notes Payable 20 Common Stock 21 Retained Earnings 22 Total Llabilities and Equity $24,000 $11,755 $4,500 $89,000 $245,000 $52,750 $427,005 $22,250 $7,500 $3,200 $48,000 $143,300 $78,450 $302,700 23 24 Income Statement 25 Sales 26 Cost of Goods Sold 27 Gross Profit 28 Operating Expenses: 29 Depreciation Expense 30 Other Operating Expense $545,750 $318,750 $227,000 $103,125 $91,750 $32,125 $6,425 $25,700 31 Income Before Taxes 32 Income Tax Expense 33 Net Income 34 35 Statement of Cash Flows 36 37 38 39 40 41 42 43 Net Cash Provided from Operating 44 Activities 45 46 NOT required to complete the investing or financing sections 47 48 49 Using the data below, complete the Operaoting section of the Cash Flow Statement using the Indirect Method. Note that no dividends were declared or paid this period. Comparative Balance Sheet 2020 $89,800 Cash Accounts Receivable Inventory Prepaid Expenses 2 Equipment 3 Acc. Depr- Equipment 4 Total Assets 2021 $46,250 $52,250 $96,750 $4,325 $825,000 -$721,875 $302,700 $41,230 $84,750 $4,975 $825,000 -$618,750 $427,005 6 Accounts Payable 7 Wages Payable 8 Income Taxes Payable 9 Long Term Notes Payable 20 Common Stock 21 Retained Earnings 22 Total Llabilities and Equity $24,000 $11,755 $4,500 $89,000 $245,000 $52,750 $427,005 $22,250 $7,500 $3,200 $48,000 $143,300 $78,450 $302,700 23 24 Income Statement 25 Sales 26 Cost of Goods Sold 27 Gross Profit 28 Operating Expenses: 29 Depreciation Expense 30 Other Operating Expense $545,750 $318,750 $227,000 $103,125 $91,750 $32,125 $6,425 $25,700 31 Income Before Taxes 32 Income Tax Expense 33 Net Income 34 35 Statement of Cash Flows 36 37 38 39 40 41 42 43 Net Cash Provided from Operating 44 Activities 45 46 NOT required to complete the investing or financing sections 47 48 49

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Cash Flow from Operating Activities Amount 2020 2021 Difference A... View the full answer