Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Shanequa Company Income Statement Year Ended December 31, 2025 Sales Revenue Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (Loss) $250,000 2,600 119,000 41,000 12,000 21,000 1,700 5,400 $258,600 200,100 $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,300. Compute the net cash provided by (used for) operating activities.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%
Shanequa Company uses the indirect method to prepare the statement of cash flows.
Refer to the following income statement:
Shanequa Company
Income Statement
Year Ended December 31, 2025
Sales Revenue
Interest Revenue
Gain on Sale of Plant Assets 6,000
Total Revenues and Gains
Cost of Goods Sold
Salary Expense
Depreciation Expense
Other Operating Expenses
Interest Expense
Income Tax Expense
Total Expenses
Net Income (Loss)
$250,000
2,600
119,000
41,000
12,000
21,000
1,700
5,400
$258,600
200,100
$58,500
Additional information provided by the company includes the following:
1. Current assets, other than cash, increased by
$21,000.
2. Current liabilities decreased by
$1,300.
Compute the net cash provided by (used for) operating activities.
Transcribed Image Text:Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Shanequa Company Income Statement Year Ended December 31, 2025 Sales Revenue Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (Loss) $250,000 2,600 119,000 41,000 12,000 21,000 1,700 5,400 $258,600 200,100 $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,300. Compute the net cash provided by (used for) operating activities.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education