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Prepare a reconciliation of net income to net cash flows from operating activities.

Prepare a reconciliation of net income to net cash flows from operating activities.

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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The accounting records of Westlake Industries provided the data below. Net income $200,000 Depreciation expense Decrease in inventory Increase in accounts receivable Increase in interest payable Amortization of bond discount Increase in accounts payable Cash dividends paid 15,000 12,000 1,400 1,600 3,000 7,000 20,000 Required: Prepare a reconciliation of net income to net cash flows from operating activities.
Transcribed Image Text:The accounting records of Westlake Industries provided the data below. Net income $200,000 Depreciation expense Decrease in inventory Increase in accounts receivable Increase in interest payable Amortization of bond discount Increase in accounts payable Cash dividends paid 15,000 12,000 1,400 1,600 3,000 7,000 20,000 Required: Prepare a reconciliation of net income to net cash flows from operating activities.
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