Question

The income statement and selected balance sheet information for Calendars Incorporated for the year ended December 31, 2013, is presented below.
Income Statement
Sales Revenue ........ $78,000
Expenses:
Cost of Goods Sold ....... 36,000
Depreciation Expense ..... 16,000
Salaries Expense ....... 10,000
Rent Expense ........ 2,500
Insurance Expense ....... 1,300
Interest Expense ....... 1,200
Utilities Expense....... 1,000
Net Income ........ $10,000



Required:
Prepare the cash flows from operating activities section of the 2013 statement of cash flows using the indirectmethod.


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  • CreatedFebruary 27, 2015
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