Question: Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Ohio, Inc. Income Statement Year Ended
Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
| Ohio, Inc. | ||
| Income Statement | ||
| Year Ended December 31, 2018 | ||
| Revenues and Gains: | ||
| Sales Revenue | $158,000 | |
| Interest Revenue | 6,300 | |
| Total Revenues and Gains | $164,300 | |
| Expenses and Losses: | ||
| Cost of Goods Sold | $140,000 | |
| Salary Expense | 21,000 | |
| Depreciation Expense | 7,000 | |
| Other Operating Expenses | 13,400 | |
| Interest Expense | 16,400 | |
| Loss on Sale of Plant Assets | 5,500 | |
| Income Tax Expense | 5,500 | |
| Total Expenses and Losses | 208,800 | |
| Net Income (Loss) | $(44,500) | |
Additional information provided by the company includes the following:
Current assets, other than cash, decreased by $5,100. Current liabilities increased by $2,300.
Compute the net cash provided by (used for) operating activities.
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