The following information is available for Bernard Corporation for 2019: Net income $185,200 Decrease in accounts receivable 8,300 Increase in inventory 19,900 Decrease in prepaid rent 4,410 Increase in salaries payable 7,100 Decrease in income taxes payable 3,870 Increase in notes payable (due 2023) 50,000 Depreciation expense 52,700 Loss on disposal of equipment 6,450 Required: Compute the net cash flows from operating activities using the indirect method.
The following information is available for Bernard Corporation for 2019: Net income $185,200 Decrease in accounts receivable 8,300 Increase in inventory 19,900 Decrease in prepaid rent 4,410 Increase in salaries payable 7,100 Decrease in income taxes payable 3,870 Increase in notes payable (due 2023) 50,000 Depreciation expense 52,700 Loss on disposal of equipment 6,450 Required: Compute the net cash flows from operating activities using the indirect method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for Bernard Corporation for 2019:
| Net income | $185,200 |
| Decrease in |
8,300 |
| Increase in inventory | 19,900 |
| Decrease in prepaid rent | 4,410 |
| Increase in salaries payable | 7,100 |
| Decrease in income taxes payable | 3,870 |
| Increase in notes payable (due 2023) | 50,000 |
| 52,700 | |
| Loss on disposal of equipment | 6,450 |
Required:
Compute the net
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