Question: Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 Assets 2016 2015 Cash

Partial balance sheets and additional information are listed below for Sowell Company.

Sowell Company
Partial Balance Sheets
as of December 31
Assets 2016 2015
Cash $40,000.00 $20,000.00
Accounts receivable 70,000.00 85,000.00
Inventory 40,000.00 35,000.00
Liabilities
Accounts payable 54,000.00

62,000.00

Additional information for 2016:

Net income was $88,000

Depreciation expense was $19,000

Required:

Prepare the operating activites section of the statement of cash flows for 2016 using the indiect method.

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