Question: Need help! 33. The following data is supplied from the comparative balance sheets and income statement information from Walker, Inc. Walker uses the indirect method.
33. The following data is supplied from the comparative balance sheets and income statement information from Walker, Inc. Walker uses the indirect method. COMPARATIVE BALANCE SHEETS 12/31/05 12/31/06 Cash Accounts Receivable Prepaid Insurance Inventory Plant, Property& Equip Accumulated Depreciation Totals S 5,000 4,000 5,000 8,000 8,000 $11,000 6,000 4,000 7,000 11,000 (2.000)3,000) $36,000 $28,000 Accounts Payable Oper. Expenses Pay L. T. Notes Payable Capital Stock Retained Earnings Totals 5,000 8,000 6,000 6,000 3.000 10,000 7,000 5,000 9,000 $28,000$36,000 INCOME STATEMENT Revenue Cost of Goods Sold Gross Margin Depreciation Expenses Other Operating Expenses Net Income 2006 $55,000 (20,000) 35,000 (1,000) (9.000) S 25,000 Required: Prepare the Statement of Cash Flow for the year ended 12/31/2006 using the indirect method
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