Pronghorn Corporation had the following 2025 income statement. Sales revenue $205,000 Cost of goods sold 115,000...
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Pronghorn Corporation had the following 2025 income statement. Sales revenue $205,000 Cost of goods sold 115,000 Gross profit 90,000 Operating expenses (includes depreciation of $20,000) 52,000 Net income $38,000 The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Pronghorn's 2025 statement of cash flows using the direct method. PRONGHORN CORPORATION Statement of Cash Flows-Direct Method (Partial) Cash Flows from Operating Activities $ Pronghorn Corporation had the following 2025 income statement. Sales revenue $205,000 Cost of goods sold 115,000 Gross profit 90,000 Operating expenses (includes depreciation of $20,000) 52,000 Net income $38,000 The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Pronghorn's 2025 statement of cash flows using the direct method. PRONGHORN CORPORATION Statement of Cash Flows-Direct Method (Partial) Cash Flows from Operating Activities $
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