Question: Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data (in

Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows:

Income statement data (in thousands):
Net income $149,774
Loss on disposal of property (149)
Depreciation expense 13,226
Other items involving noncash expense 837
Balance sheet data (in thousands):
Increase in accounts receivable 13,041
Increase in inventory 7,565
Increase in prepaid expenses 10,548
Increase in accounts payable and other current liabilities 17,464

a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Co. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!