Use the information from BE23-4 for Bloom Corporation. Prepare the cash flows from operating activities section of Bloom’s 2015 statement of cash flows using the indirect method.

Data From BE 23-4

Bloom Corporation had the following 2015 income statement.

The following accounts increased during 2015: accounts receivable €12,000, inventory €11,000, and accounts
payable €13,000. Prepare the cash flows from operating activities section of Bloom’s 2015 statement
of cash flows using the direct method.

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Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation. of 21,000) Net income 200,000 120,000 80,000 50,000 30,000