Week 8 Assignment - Cash Flow Statement Using the data below, complete the Operating section of the Cash Flow statement using the Indirect Method. Comparative Balance Sheet 2020 2021 Cash $94,800 $24,000 Accounts Receivable $41,000 $51,000 Inventory $85,800 $95,800 Prepaid Expenses $5,400 $4,200 Equipment $109,000 $119,000 Acc. Depr - Equipment -$17,000 -$9,000 Total Assets $319,000 $285,000 Accounts Payable $15,000 $21,000 Wages Payable $9,000 $5,000 Income Taxes Payable $1,400 $2,600 Long Term Notes Payable $29,000 $69,000 Common Stock $229,000 $179,000 Retained Earnings $35,600 $8,400 Total Liabilities and Equity $319,000 $285,000 Income Statement Sales $488,000 Cost of Goods Sold $314,000 Gross Profit $174,000 Operating Expenses: Depreciation Expense $37,600 Other Operating Expense $89,100 Income Before Taxes $47,300 Income Tax Expense $17,300 Net Income $30,000 Statement of Cash Flows Net Income $30,000 Net Cash Provided from Operating Activities NOT Required to complete the investing or financing sections

Week 8 Assignment - Cash Flow Statement Using the data below, complete the Operating section of the Cash Flow Statement using the Indirect Method. Note that no dividends were declared or paid this period. Statement of Cash Flows NOT required to complete the investing or financing sections