Selected data (in thousands) derived from the income statement and balance sheet of Cardinas Corp. for...

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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: Net income Gain on disposal of property $49,295 1,175 Depreciation expense 11,570 Other items involving noncash expenses 1,390 Balance sheet data: Increase in accounts receivable 1,705 Decrease in inventory 985 Increase in prepaid expenses 620 Decrease in accounts payable 715 Decrease in accrued and other current liabilities 975 (in thousands) 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. Cardinas Corp. Cash Flows from Operating Activities Line Item Description Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Gain on disposal of property Other items involving noncash expenses Changes in current operating assets and liabilities: Increase in accounts receivable Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Decrease in accrued and other current liabilities Net cash flows from operating activities Feedback Amount Amount 00000 000 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: Net income Gain on disposal of property $49,295 1,175 Depreciation expense 11,570 Other items involving noncash expenses 1,390 Balance sheet data: Increase in accounts receivable 1,705 Decrease in inventory 985 Increase in prepaid expenses 620 Decrease in accounts payable 715 Decrease in accrued and other current liabilities 975 (in thousands) 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. Cardinas Corp. Cash Flows from Operating Activities Line Item Description Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Gain on disposal of property Other items involving noncash expenses Changes in current operating assets and liabilities: Increase in accounts receivable Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Decrease in accrued and other current liabilities Net cash flows from operating activities Feedback Amount Amount 00000 000

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