Question: Selected data ( in thousands ) derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows: Income
Selected data in thousands derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows:
Income statement data:
Line Item Description Amount
Net income $
Gain on disposal of property
Depreciation expense
Other items involving noncash expenses
Balance sheet data:
Line Item Description Amount
Increase in accounts receivable
Decrease in inventory
Increase in prepaid expenses
Decrease in accounts payable
Decrease in accrued and other current liabilities
a Prepare the Cash flows from used for operating activities section of the statement of cash flows, using the indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above.
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