Petroni Company reports the following selected results for its calendar year 2018. Net income .................................................................... $135,000 Depreciation

Question:

Petroni Company reports the following selected results for its calendar year 2018.

Net income ....................................................................   $135,000

Depreciation expense ..................................................    25,000

Gain on sale of assets ..................................................     5,000

Accounts receivable increase ......................................     10,000

Accounts payable increase ...........................................    6,000

Prepaid expenses decrease .........................................     3,000

Wages payable decrease ...............................................     4,000


REQUIRED:

Prepare the operating section only of Petroni Company's statement of cash flows for 2018 under the indirect method of reporting.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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