Aquarius Endoscope Inc. presents the following income statement and select balance sheet accounts.

Prepare the operating cash flows section of the cash flow statement using the indirect method. (Use a minus sign or parentheses for any numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.

 

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EP6A-1 (similar to) Aquarius Endoscope, Inc. presents the following income statement and select balance sheet accounts. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Requirement Prepare the operating cash flows section of the cash flow statement using the indirect method. (Use a minus sign or parentheses for any numbers to be subtracted. If a box is not used in the statem empty, do not select a label or enter a zero.) X - Income Statement Aquarius Endoscope, Inc. Partial Statement of Cash Flows (Indirect Method) For the Current Year Ended Aquarius Endoscope, Inc. Operating Activities: Statement of Net Income For the Current Year Ended Adjustments to Reconcile Net Income to Cash Flows $ 1,500,000 from Operating Activities: 875,000 625,000 Changes in Current Assets and Liabilities 50,000 115,000 29,000 431,000 9,000 422,000 82,000 340,000 Cash Collected from Customers Cash Paid for Income Taxes Cash Paid for Interest Cash Paid for Merchandise Cash Paid to Employees Cash Paid to Other Suppliers Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Accrued Expenses Decrease in Income Taxes Payable Decrease in Interest Payable Decrease in Inventory Decrease in Prepaid Expenses Decrease in Wages Payable Depreciation Expense Increase in Accounts Payable Increase in Accounts Receivable Increase in Accrued Expenses Increase in Income Taxes Payable Increase in Interest Payable Increase in Inventory Increase in Prepaid Expenses Increase in Wages Payable Net Income Sales Revenue Cost of Goods Sold Gross Profit Wage Expense General and Administrative Expenses Depreciation Expense Operating Income Interest Expense Income before Taxes Income Tax Expense Net Income Done Balance Sheet Select Balance Sheet Accounts Account Accounts Receivable Inventory Prepaid Expenses Accounts Payable Wages Payable Interest Payable Print Print Done $ - X Beginning Ending $ 22,000 $ 18,500 589,700 615.000 12,200 10,650 58,500 51,000 5,900 6,800 2,450 2,050 EP6A-1 (similar to) Aquarius Endoscope, Inc. presents the following income statement and select balance sheet accounts. (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Requirement Prepare the operating cash flows section of the cash flow statement using the indirect method. (Use a minus sign or parentheses for any numbers to be subtracted. If a box is not used in the statem empty, do not select a label or enter a zero.) X - Income Statement Aquarius Endoscope, Inc. Partial Statement of Cash Flows (Indirect Method) For the Current Year Ended Aquarius Endoscope, Inc. Operating Activities: Statement of Net Income For the Current Year Ended Adjustments to Reconcile Net Income to Cash Flows $ 1,500,000 from Operating Activities: 875,000 625,000 Changes in Current Assets and Liabilities 50,000 115,000 29,000 431,000 9,000 422,000 82,000 340,000 Cash Collected from Customers Cash Paid for Income Taxes Cash Paid for Interest Cash Paid for Merchandise Cash Paid to Employees Cash Paid to Other Suppliers Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Accrued Expenses Decrease in Income Taxes Payable Decrease in Interest Payable Decrease in Inventory Decrease in Prepaid Expenses Decrease in Wages Payable Depreciation Expense Increase in Accounts Payable Increase in Accounts Receivable Increase in Accrued Expenses Increase in Income Taxes Payable Increase in Interest Payable Increase in Inventory Increase in Prepaid Expenses Increase in Wages Payable Net Income Sales Revenue Cost of Goods Sold Gross Profit Wage Expense General and Administrative Expenses Depreciation Expense Operating Income Interest Expense Income before Taxes Income Tax Expense Net Income Done Balance Sheet Select Balance Sheet Accounts Account Accounts Receivable Inventory Prepaid Expenses Accounts Payable Wages Payable Interest Payable Print Print Done $ - X Beginning Ending $ 22,000 $ 18,500 589,700 615.000 12,200 10,650 58,500 51,000 5,900 6,800 2,450 2,050

Answer rating: 100% (QA)

Indirect Method Cash Flow of Statements Particulars Amoun... View the full answer