Staley Inc. reported the following data: Net income $364,200 Depreciation expense 62,000 Loss on disposal of...

Transcribed Image Text:

Staley Inc. reported the following data: Net income $364,200 Depreciation expense 62,000 Loss on disposal of equipment 30,500 Increase in accounts receivable 15,300 Increase in accounts payable 12,500 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities 000 00 Staley Inc. reported the following data: Net income $364,200 Depreciation expense 62,000 Loss on disposal of equipment 30,500 Increase in accounts receivable 15,300 Increase in accounts payable 12,500 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities 000 00

Answer rating: 100% (QA)

Mahima Date Page No Le wwwmahimamulticolourpome of cash flowls Partial 364200 62000 30500 456... View the full answer