Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $404,600 Depreciation expense 72,400 Loss on disposal of equipment 30,600 Increase in accounts receivable 14,000 Increase in accounts payable 13,000 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc.Statement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities:
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $404,600 Depreciation expense 72,400 Loss on disposal of equipment 30,600 Increase in accounts receivable 14,000 Increase in accounts payable 13,000 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc.Statement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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Staley Inc. reported the following data:
| Net income | $404,600 |
| 72,400 | |
| Loss on disposal of equipment | 30,600 |
| Increase in |
14,000 |
| Increase in accounts payable | 13,000 |
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
Staley Inc.Statement of Cash Flows (partial)
| Cash flows from operating activities: | ||
|
|
$- Select - | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
|
|
- Select - | |
|
|
- Select - | |
| Changes in current operating assets and liabilities: | ||
|
|
- Select - | |
|
|
- Select - | |
| Net cash flow from operating activities | $fill in the blank 11 |
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