A firm uses the indirect method. Using the following information, what is its net cash flow from
Question:
A firm uses the indirect method. Using the following information, what is its net cash flow from operating activities?
Net income ....................................................................................... $88,000
Accounts receivable decrease ........................................................ 13,000
Inventory increase ............................................................................. 9,000
Accounts payable decrease .............................................................. 3,500
Income tax payable increase ............................................................ 1,500
Depreciation expense ......................................................................... 6,000
Step by Step Answer:
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman