Statement of Cash Flows (Indirect Method)
The Rainbow Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 follow:

    

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Statement of Cash Flows (Indirect Method) The Rainbow Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 follow: RAINBOW COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue Dividend Income Cost of Goods Sold Wages and Other Operating Expenses Depreciation Expense Patent Amortization Expense Interest Expense Income Tax Expense Loss on Sale of Equipment Gain on Sale of Investments Net Income $528,000 156,000 46,800 8,400 15,600 $900,000 18,000 918,000 52,800 6,000 (12,000) 801,600 $116,400 Statement of Cash Flows (Indirect Method) The Rainbow Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 follow: RAINBOW COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue Dividend Income Cost of Goods Sold Wages and Other Operating Expenses Depreciation Expense Patent Amortization Expense Interest Expense Income Tax Expense Loss on Sale of Equipment Gain on Sale of Investments Net Income $528,000 156,000 46,800 8,400 15,600 $900,000 18,000 918,000 52,800 6,000 (12,000) 801,600 $116,400

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answer Statement of Cash Flows Indirect Approach Amount in Amount in Net income 116400 Cash flows fr... View the full answer