Question: Computing operating activities cash flow----indirect method The records of McKnight Color Engraving reveal the following: Net income $38,000 Depreciation expense $4,000 Sales revenue 51,000 Decrease
Computing operating activities cash flow----indirect method
The records of McKnight Color Engraving reveal the following:
| Net income $38,000 | Depreciation expense $4,000 |
| Sales revenue 51,000 | Decrease in current liabilities 28,000 |
| Loss on sale of land 5,000 | Increase in current assets other than cash 14,000 |
| Acquisition of land 39,000 |
|
Compute the flows from operating activities by the indirect method for year ended December 31, 2014.
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