Question: Zander companys calendaryear 2011 income statement shows the following net
Zander Company’s calendar-year 2011 income statement shows the following: Net Income, $395,000; Depreciation Expense, $48,980; Amortization Expense, $9,875; Gain on Sale of Plant Assets, $4,900. An examination of the company’s current assets and current liabilities reveals the following changes (all from operating activities): Accounts Receivable decrease, $7,600; Merchandise Inventory decrease, $22,040; Prepaid Expenses increase, $2,000; Accounts Payable decrease, $5,000; Other Payables increase, $760. Use the indirect method to compute cash flow from operating activities.
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