1. Using the following changes in current assets and current liability accounts and also the income...

  

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1. Using the following changes in current assets and current liability accounts and also the income statement, create a partial cash flow statement that only includes the cash flows from operating activities. Use the indirect method. Butte Ice Cream Income Statement FYE 12/31/2016 Sales $ 2,185,000 Gross profit Cost of goods sold Operating expenses Wage expense 1,065,750 1,119,250.00 296,370 Occupancy expense 58,250 Depreciation expense 48,520 Amortation expense-trademark 13,780 Supplies expense 79,320 496,240 Income from operations 623,010 Gain on sale of equipment 8,900 631,910 Net income Changes in current assets and current liabilities accounts that impact cash flows from operations: Accounts receivable Merchandise inventory 46,200 increase 32,170 increase Accounts payable Wages payable 9,780 decrease 6,820 increase 1. Using the following changes in current assets and current liability accounts and also the income statement, create a partial cash flow statement that only includes the cash flows from operating activities. Use the indirect method. Butte Ice Cream Income Statement FYE 12/31/2016 Sales $ 2,185,000 Gross profit Cost of goods sold Operating expenses Wage expense 1,065,750 1,119,250.00 296,370 Occupancy expense 58,250 Depreciation expense 48,520 Amortation expense-trademark 13,780 Supplies expense 79,320 496,240 Income from operations 623,010 Gain on sale of equipment 8,900 631,910 Net income Changes in current assets and current liabilities accounts that impact cash flows from operations: Accounts receivable Merchandise inventory 46,200 increase 32,170 increase Accounts payable Wages payable 9,780 decrease 6,820 increase

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Butte Ice Cream Partial Cash Flow Statement Operating Activities Indirect Method For the year ended ... View the full answer