Please do not give solution in image format thanku 8. Deferred revenue received from customers decreased by $15,000.9.Income tax payable increased by $29,000.(a)Prepare the operating activities section of the statement of cash flows, using the indirect method. (Show amounts that decrease cash flow with either a-siguBLOSSOM LTD.Statement of Cash Flows (Partial)Year Ended November 30, 2021Operating activitiesAdjustments to reconcile net income to>>><>(>4AAUDI SalesCost of goods soldGross profitOperating expensesIncome from operationsInterest expenseIncome before income taxIncome tax expenseNet income1.2.3.4.5.6.Statement of IncomeYear Ended November 30, 2021Additional information regarding 2021:Operating expenses include $73,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment.Accounts receivable increased by $189,000,Inventory decreased by $55,000.Prepaid expenses related to operating expenses increased by $50,000.Accounts payable to suppliers of inventory decreased by $184,000.Rent payable related to operating expenses decreased by $91,000.Interest payable decreased by $20,000.Deferred revenue received from customers decreased by $15,000.8.7.$8,400,0004,150,0004,250,0002.040,0002,210,000150,0002,060,000400,000$1,660,000

CASH FLOW FROM OPERATING ACTIVITIES Operating activities are the principal revenue- producing…

2. Sales Cost of goods sold Gross proft Operating expenses Income from operations Interest expense Income before income tax Income tax expense 3. 6. Net income Additional information regarding 2021: Operating expenses include $73,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment. Accounts receivable increased by $189,000, Inventory decreased by $55,000. Prepaid expenses related to operating expenses increased by $50,000. Accounts payable to suppliers of inventory decreased by $184,000. Rent payable related to operating expenses decreased by $91,000. Interest payable decreased by $20,000. Deferred revenue received from customers decreased by $15,000. 4. 5. 7. Year Ended November 30, 2021 8. $8,400,000 4,150,000 4,250,000 2.040,000 2,210,000 150.000 2,060,000 400,000 $1,660,000

2. Sales Cost of goods sold Gross proft Operating expenses Income from operations Interest expense Income before income tax Income tax expense 3. 6. Net income Additional information regarding 2021: Operating expenses include $73,000 of depreciation expense and a $110,000 impairment loss on property, plant, and equipment. Accounts receivable increased by $189,000, Inventory decreased by $55,000. Prepaid expenses related to operating expenses increased by $50,000. Accounts payable to suppliers of inventory decreased by $184,000. Rent payable related to operating expenses decreased by $91,000. Interest payable decreased by $20,000. Deferred revenue received from customers decreased by $15,000. 4. 5. 7. Year Ended November 30, 2021 8. $8,400,000 4,150,000 4,250,000 2.040,000 2,210,000 150.000 2,060,000 400,000 $1,660,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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