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Shim Company presents its statement of cash flows using the

Shim Company presents its statement of cash flows using the

Shim Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Shim's 2014 and 2013 year-end balance sheets:

The income statement contained a $1,500 gain on the sale of equipment, an $800 loss on the sale of land, and $3,600 of depreciation expense. Net income for the period was $47,300.

Required
Prepare the operating activities section of the statement of cashflows.

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Transcribed Image Text

Account Title 2014 2013 Accounts receivable Prepaid rent Interest receivable Accounts payable Salaries payable Unearned revenue $36,000 2,400 600 9,300 4,500 3,600 $37,200 1,800 400 10,400 5,200 5,400