The following information is available from the current period financial statements: Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $121,189 39,129 24,264 24,712 The net cash flows from operating activities using the indirect method is a. $121,189 b. $81,612 c. $111,342 d. $209,294

Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance sheets for 2019: Required: Prepare a statement of cash flows for Volusia using the indirect method to compute net cash flow from operating activities.

Classifying Items in the Statement of Cash Flows The following items are commonly reported in a statement of cash flows (indirect method presentation). For each item 1 through 20, determine (a) in which section the item is presented (operating, investing, or financing) and (b) whether the associated dollar amount is added or subtracted in the statement.   (a) (b) 1. Payments of short-term debt. AnswerOperatingInvestingFinancing AnswerAddSubtract 2. Repurchases of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 3. Purchases of property and equipment. AnswerOperatingInvestingFinancing AnswerAddSubtract 4. Sale of investments classified as long-term. AnswerOperatingInvestingFinancing AnswerAddSubtract 5. Proceeds from the issuance of common stock. AnswerOperatingInvestingFinancing AnswerAddSubtract 6. Increase in prepaid expenses and other current assets. AnswerOperatingInvestingFinancing AnswerAddSubtract 7. Acquisition for cash of a competitor.…

Cash, Inventory , and Accounts Receivable are reported on the      Income statement below Sales and Cost of Goods Sold     Balance sheet under fixed  or intangible assets      $792,000.     Balance sheet under current assets      Income statement above net income