GS 12-6 iAIgo] Indirect: Computing cash from operations LO P2 MOSS EDHPN'IY Income 5tatement For Year Ended December 31, 2621 Sales 5 556,666 Cost of goods sold 345,566 Gross profit 264,466 Gperating expenses {excluding depreciation} 125,566 Depreciation expense 43,666 Income before taxes 35,966 Income taxes expense 12,966 Net income 5 23,666 H055 COMPANY Selected Balance Eheet Information At December 31 2621 2626 Current assets Cash $ 53,152! $ 3e,soo Accounts receivable 26,566 39,666 Invent or}; 63 , 566 54, 666 Current liabilities Accounts payable 3?,466 29,266 Income taxes payable 2,466 2,966 Use the information above to calculate cash ows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash ows from operating activities: _ Exercise 12-3 [Algol Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected YEarEnd Balance Sheet Data Revenues $ 95,336 Accounts receivable decrease $ 24,938 Expenses: Purchased a machine for cash 19,896 Salaries expense I3,BBG Salaries payable increase 26,8E Utilities expense 36,366 Interest payable decrease 14,683 Depreciation expense 28,266 Interest expense ?,566 Net loss $ {43:733} Prepare the operating actiyit'les section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Cash ows from operating activitiesindirect method 05 12-16 [Algal Computing cash flows from nancing LO P3 Cash received from longterm notes payable $ 44,396 Purchase of investments 11,198 Cash dividends paid 35,5136 Interest paid 1?,363 Compute cash ows from financing activities using the above company information- Note: Amounts to be deducted should be indicated by a minus sign