Sarasota Corporation had the following 2025 income statement.Sales revenue$220,000Cost of goods sold131,000Gross profit89,000Operating expenses (includes depreciation of $23,000)46,000Net income$43,000The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $12,000.Prepare the cash flows from operating activities section of Sarasota's 2025 statement of cash flows using the indirect method. (Showamounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)SARASOTA CORPORATIONStatement of Cash Flows-Indirect Method (Partial)For the Year Ended December 31, 2025Cash Flows from Operating ActivitiesNet IncomeAdjustments to reconcile net income toNet Cash Provided by Operating ActivitiesDepreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableIncrease in Inventory:$DOOD$$Net Cash Provided by Operating Activities

We are given the following information;Net Income: $43,000Depreciation Expense: $23,000 (non-cash…

Answered: Sarasota Corporation had the following…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

See similar textbooks

Similar questions

Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts receivable, a 7,000 increase in inventory, an 8,000 increase in salaries payable, a 13,000 decrease in accounts payable, and 10,000 in depreciation expense. Using the indirect method, prepare the operating activities section of its statement of cash flows based on this information.
Use the following information from Birch Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $122,000.
Use the following excerpts from Indigo Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $225,000.
Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase of equipment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 76,800
Statement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
Marin Corporation had the following 2025 income statement. Sales revenue $186,000 Cost of goods sold 127,000 Gross profit 59,000 Operating expenses (includes depreciation of $22,000) 45,000 Net income $14,000 The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Marin's 2025 statement of cash flows using the direct method. MARIN CORPORATION Statement of Cash Flows-Direct Method (Partial) LA
Skysong Corporation had the following 2025 income statement. Sales revenue $186,000 Cost of goods sold 127,000 Gross profit 59,000 Operating expenses (includes depreciation of $22,000) 45,000 Net income $14,000 The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Paya Prepare the cash flows from operating activities section of Skysong's 2025 statement of cash flows using the direct n SKYSONG CORPORATION Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses $ $ Net Cash Provided by Operating Activities $
Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) > > $ +A $
Bloom Corporation had the following 2025 income statement. Sales revenue $200,000 Cost of goods sold 120,000 Gross profit 80,000 Operating expenses (includes depreciation of $21,000) 50,000 Net income $30,000 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).) BLOOM CORPORATION Statement of Cash Flows-Indirect Method (Partial) For the Year Ended December 31, 2025
Martinez Corporation had the following 2020 income statement. Sales revenue $213,000 Cost of goods sold 119,000 Gross profit 94,000 Operating expenses (includes depreciation of $19,000) 49,000 Net income $45,000 The following accounts increased during 2020: Accounts Receivable $10,000, Inventory $10,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Martinez’s 2020 statement of cash flows using the direct method.
4... Cullumber Corporation had the following 2020 income statement. Sales revenue $213,000 Cost of goods sold 109,000 Gross profit 104,000 Operating expenses (includes depreciation of $19,000) 53,000 Net income $51,000 The following accounts increased during 2020: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Cullumber’s 2020 statement of cash flows using the direct method. Cullumber CorporationStatement of Cash Flows-Direct Method (Partial)choose the accounting period select an opening section name select an opening subsection name $enter a dollar amount select an item $enter a dollar amount…

SEE MORE QUESTIONS

Recommended textbooks for you

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS