QS 12-6 Indirect: Computing cash from operations LO P2

QS 12-6 Indirect: Computing cash from operations LO P2 MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $88,150 $30,300 Accounts receivable 28,500 39,000 Inventory 63,500 54,800 Current liabilities I Accounts payable 37,400 29,200 Income taxes payable 2,400 2,900 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 550,000 Cost of goods sold 345,600 Gross profit 204,400 Tyne here to search W o Income taxes payable 2,400 2,900 $ 550,000 345,600 204,400 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 43,000 Other expenses 125,500 Income before taxes Income taxes expense Net income 168,500 35,900 12,900 $ 23,000 Use the information above to calculate cash flows from operating activit should be indicated by a minus sign.) Type here to search Check 1 Use the information above to calculate cash flows from operating activities using the indirect method (Amounts to be deducted should be indicated by a minus sign.) Cash flows from operating activities Skipped Adjustments to reconcile net income to operating cash flow eBook Hint Print References o EP 6 11 M e Type here to search B