Blue Company's income statement for the year ended December 31, 2025, contained the following condensed information. Service revenue Operating expenses (excluding depreciation) Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable $628,000 2025 2024 $37,000 $56,000 43,000 29,000 4,000 8,100 60,000 26,000 $844,000 Blue's balance sheet contained the following comparative data at December 31. 714,000 130,000 40,000 $90,000 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the 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).) BLUE COMPANY Partial Statement of Cash Flows

Blue Company's income statement for the year ended December 31, 2025, contained the following condensed information. Service revenue Operating expenses (excluding depreciation) Depreciation expense Loss on sale of equipment Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable $628,000 2025 2024 $37,000 $56,000 43,000 29,000 4,000 8,100 60,000 26,000 $844,000 Blue's balance sheet contained the following comparative data at December 31. 714,000 130,000 40,000 $90,000 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the 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).) BLUE COMPANY Partial Statement of Cash Flows

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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