3 8 points eBook Ask Print References Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 85,000 73,000 34,000 32,200 8,000 $ (62,200) Salaries payable increase Interest payable decrease Statement of Cash Flows (partial) Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities-indirect method Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Accounts receivable decrease Changes in current operating assets and liabilities Cash paid for salaries $ $ 25,000 22,000 0 24,000 16,000

Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Exercise 16-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign