Question: Snowe Co.'s current asset and liability balances for the past two years are as follows. Net income for 2013 was $1,208,000, and depreciation expense was

Snowe Co.'s current asset and liability balances for the past two years are as follows. Net income for 2013 was $1,208,000, and depreciation expense was $85,000.

Required
Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows for2014.

December 31, 2014 December 31, 2013 Accounts Receivable Inventories Accounts Payable Accrued Liabilities $450,000 670,000 287,000 140,000 $380,000 730,000 326,000 110,000

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