7.

Using the information in the table below (note that the balance sheet accounts listed below are the only items on the company's balance sheet for each year and the income statement accounts are the only items on the company's income statement for each year), what did this company report as Cash flow from Operating Activities on its 2021 statement of cash flows? Account 2020 2021 Accounts payable 34,400 33,200 Accounts receivable 35,800 30,960 Accruals 20,840 22,840 Additional paid in capital 36,000 38,800 Cash 50,400 46,840 Common Stock 8,000 10,000 COGS 151,640 165,920 Depreciation expense 10,000 17,600 Interest expense 20,000 24,000 Inventories 20,780 21,560 Long-term debt 30,240 209,700 247,680 Net fixed assets 17,600 15,600 Notes payable 93,960 102,960 Operating expenses (excl. depr.) 169,600 192,800 Retained earnings 322,000 359,200 Sales 13,200 16,400 Taxes A 1) 56,480 2) 57,780 3) 54.780 4) 55,080 5) 53,480