Amelias Bookstore reported net income of $62,000 for the current year. The following information is also available
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Amelia’s Bookstore reported net income of $62,000 for the current year. The following information is also available for the year: $5,000 depreciation expense, $5,500 increase in inventory, $2,000 decrease in accounts receivable, and $1,250 decrease in accounts payable. Using the indirect method, prepare the operating activities section of the statement of cash flows for Amelia’s for the current year.
Related Book For
Intermediate Accounting
ISBN: 978-0324659139
11th edition
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
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