Question

The income statement of Paxson Company is presented here.


Additional information:
1. Accounts receivable decreased $380,000 during the year, and inventory decreased $300,000.
2. Prepaid expenses increased $150,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $350,000 during the year.
4. Accrued expenses payable decreased $100,000 during the year.
5. Administrative expenses include depreciation expense of $110,000.

Instructions
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2014, for Paxson Company, using the indirectmethod.


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  • CreatedApril 07, 2014
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