An analysis of the balance sheet of Daphne Blake, Inc. revealed the following: Net Income $12,750 Depreciation
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Question:
An analysis of the balance sheet of Daphne Blake, Inc. revealed the following:
Net Income | $12,750 |
Depreciation expense | 32,600 |
Gain on disposal of equipment | 10,000 |
Decrease in accounts receivable | 21,500 |
Increase in inventory | 18,300 |
Decrease in prepaid Insurance | 2,000 |
Increase in accounts payable | 19,800 |
Prepare the operating section of the Statement of Cash Flows using the indirect method. Your final line should indicate Net Cash Inflows or Net Cash Outflows from Operating Activities. Show your work to receive c
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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