Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $403, 000 49,000 7,500 6, 200 Accounts receivable decrease Depreciation expense Amortization expense Gain on sale of plant assets Inventory decrease Prepaid expenses increase Accounts payable decrease Salaries payable increase $54, 200 44,500 4, 800 9,900 2,400 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities
Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $403, 000 49,000 7,500 6, 200 Accounts receivable decrease Depreciation expense Amortization expense Gain on sale of plant assets Inventory decrease Prepaid expenses increase Accounts payable decrease Salaries payable increase $54, 200 44,500 4, 800 9,900 2,400 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Selected Annual Income Statement Data
Selected Year-End Balance Sheet Data
Net income
$403, 000
49, 000
7,500 Prepaid expenses increase
6, 200
Accounts receivable decrease
$54, 200
Depreciation expense
Amortization expense
Gain on sale of plant assets
Inventory decrease
44,500
Accounts payable decrease
Salaries payable increase
4,800
9,900
2,400
Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31.
(Amounts to be deducted should be indicated with a minus sign.)
Statement of Cash Flows (partial)
Cash flows from operating activities
Adjustments to reconcile net income to net cash provided by operating activities
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