Clapper Company reported net income of $40,000 for the year. Depreciation expense was $3,000 and amortization...

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Clapper Company reported net income of $40,000 for the year. Depreciation expense was $3,000 and amortization expense on patents was $500 for the year. In addition, the balance sheet reported the following account changes during the year. Decrease in accounts receivable increase in debt investments classified as available for sale securities Decrease in prepaid expenses Decrease in accounts payable increase in accrued expenses Decrease in short term nontrade notes payable $1,000 900 400 1,000 900 1,600 Prepare the operating activities section of the statement of cash flows using the indirect method.) Note: If a line is not needed, select "n/a" and leave the amount blank (zero) Prepare the operating activities section of the statement of cash flows using the indirect method. • Note: If a line is not needed, select "n/a" and leave the amount blank (zero). Cash Flows from Operating Activities Net income Depreciation expense Amortization expense Decrease in accounts receivable Decrease in prepaid expenses Decrease in accounts payable Decrease in short-term nontrade notes payable Increase in accrued expenses Net cash provided (used) by operating activities V$ > < > << < ✓ $ 40,000 3,000 500 1,000 400 1,600 1,600 900 0 Clapper Company reported net income of $40,000 for the year. Depreciation expense was $3,000 and amortization expense on patents was $500 for the year. In addition, the balance sheet reported the following account changes during the year. Decrease in accounts receivable increase in debt investments classified as available for sale securities Decrease in prepaid expenses Decrease in accounts payable increase in accrued expenses Decrease in short term nontrade notes payable $1,000 900 400 1,000 900 1,600 Prepare the operating activities section of the statement of cash flows using the indirect method.) Note: If a line is not needed, select "n/a" and leave the amount blank (zero) Prepare the operating activities section of the statement of cash flows using the indirect method. • Note: If a line is not needed, select "n/a" and leave the amount blank (zero). Cash Flows from Operating Activities Net income Depreciation expense Amortization expense Decrease in accounts receivable Decrease in prepaid expenses Decrease in accounts payable Decrease in short-term nontrade notes payable Increase in accrued expenses Net cash provided (used) by operating activities V$ > < > << < ✓ $ 40,000 3,000 500 1,000 400 1,600 1,600 900 0

Answer rating: 100% (QA)

Question 1 Prepare the operating activities section of the statement of cash flows using the indirect method Net income 40000 Given Adjustments for no... View the full answer