During 2008 the Smith Company had a net income of $85,000. In addition, the following accounts showed the following changes for the year ended December 31, 2008:

Accounts Receivable........decreased by $3,000

Accounts Payable ............increased by $1,000

Bonds Payable..................increased by $8,000

Buildings..........................increased by $4,000

Inventory..........................increased by $2,500

Depreciation Expenses.....increased by.. $1,500

Prepare the Operating Activities section of Smith’s Statement of Cash Flows for the year ended December 31, 2008.

Answer rating: 100% (QA)

Operating section of the cash flow statement Net income 85000 Adj... View the full answer