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Bloom Corporation had the following 2025 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Net income Cash Flows from Operating Activities Net Income The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom's 2025 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to Cash Flows from Operating Activities BLOOM CORPORATION Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2025 Cash Received from Customers $200,000 Cash Payment to Suppliers 120,000 Cash Payment for Operating Expenses 80,000 50,000 $30,000 188000 118000 29000

Bloom Corporation had the following 2025 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Net income Cash Flows from Operating Activities Net Income The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom's 2025 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Adjustments to reconcile net income to Cash Flows from Operating Activities BLOOM CORPORATION Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2025 Cash Received from Customers $200,000 Cash Payment to Suppliers 120,000 Cash Payment for Operating Expenses 80,000 50,000 $30,000 188000 118000 29000

FINANCIAL ACCOUNTING
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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Bloom Corporation had the following 2025 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Net income The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom's 2025 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income BLOOM CORPORATION Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2025 Adjustments to reconcile net income to Cash Flows from Operating Activities Cash Received from Customers $200,000 120,000 Cash Payment to Suppliers 80,000 50,000 $30,000 Cash Payment for Operating Expenses 188000 118000 29000
Transcribed Image Text:Bloom Corporation had the following 2025 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Net income The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom's 2025 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income BLOOM CORPORATION Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2025 Adjustments to reconcile net income to Cash Flows from Operating Activities Cash Received from Customers $200,000 120,000 Cash Payment to Suppliers 80,000 50,000 $30,000 Cash Payment for Operating Expenses 188000 118000 29000
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