Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses:...

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Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 120,000 71,000 35,000 28,400 7,100 $ (21,500) 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. Statement of Cash Flows (partial) 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 Net cash used in operating activities Depreciation expense Changes in current operating assets and liabilities Accounts receivable decrease Salaries payable increase Interest payable decrease $ $ 25,000 21,000 27,000 17,000 0 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 120,000 71,000 35,000 28,400 7,100 $ (21,500) 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. Statement of Cash Flows (partial) 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 Net cash used in operating activities Depreciation expense Changes in current operating assets and liabilities Accounts receivable decrease Salaries payable increase Interest payable decrease $ $ 25,000 21,000 27,000 17,000 0

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Arundel Company Operating Activities Section of Statement of Cash Flows Indirect ... View the full answer