Headland Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit...

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Headland Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $19,000) Net income Cash Flows from Operating Activities Net Income The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. Depreciation expense Increase in Accounts Receivable Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Net Cash Used by Operating Activities V $213,000 109,000 104,000 V 53,000 $ $51,000 19,000 $11,000 $ 51,000 $8,000 59,000 Cost of goods sold Gross profit Operating expenses (includes depreciation of $19,000) Net income Cash Flows from Operating Activities Net Income Depreciation expense The following accounts increased during 2020: Accounts Receivable $12.000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. Increase in Accounts Receivable 109,000 Cash Payment to Suppliers Decrease in Accounts Payable Increase in Accounts Receivable Cash Received from Customers Increase in Inventory 104,000 Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Depreciation expense Cash Payment for Operating Expenses Increase in Accounts Payable Decrease in Accounts Receivable Net Income Decrease in Inventory 53,000 $51,000 19,000 $11,000 $ 51,000 $8,000 59,000 Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $19.000) Net income The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. $213,000 109,000 104.000 53,000 $51.000 Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Net Cash Used by Operating Activities $ 19,000 $11,000 51,000 $8,000 59,000 Headland Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $19,000) Net income Cash Flows from Operating Activities Net Income The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. Depreciation expense Increase in Accounts Receivable Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Net Cash Used by Operating Activities V $213,000 109,000 104,000 V 53,000 $ $51,000 19,000 $11,000 $ 51,000 $8,000 59,000 Cost of goods sold Gross profit Operating expenses (includes depreciation of $19,000) Net income Cash Flows from Operating Activities Net Income Depreciation expense The following accounts increased during 2020: Accounts Receivable $12.000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. Increase in Accounts Receivable 109,000 Cash Payment to Suppliers Decrease in Accounts Payable Increase in Accounts Receivable Cash Received from Customers Increase in Inventory 104,000 Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Depreciation expense Cash Payment for Operating Expenses Increase in Accounts Payable Decrease in Accounts Receivable Net Income Decrease in Inventory 53,000 $51,000 19,000 $11,000 $ 51,000 $8,000 59,000 Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $19.000) Net income The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2020 statement of cash flows using the direct method. $213,000 109,000 104.000 53,000 $51.000 Headland Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2020 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Net Cash Used by Operating Activities $ 19,000 $11,000 51,000 $8,000 59,000

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