Prepare the operating activities section of the SCF for the Bessdoon Restaurant using the indirect method....
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Prepare the operating activities section of the SCF for the Bessdoon Restaurant using the indirect method. Income Statement Sales Depreciation Other expenses Operating income Loss on sale of equipment $300,000 $ 8,000 284,000 292,000 8,000 Loss on sale of marketable securities Net income Changes in balance sheet accounts: Cash Marketable securities Accounts receivable (1,000) (2,000) $ 5,000 Increase (Decrease) $ 10,000 (5,000) 18,000 5,000 Inventories Prepaid expenses (2,000) Property and equipment 10,000 Accounts payable (6,000) Accrued payables 1,000 Dividends payable 2,000 Current portion of long-term debt 12,000 Long-term debt meldont 24,000 Equity accounts 3,000 Prepare the operating activities section of the SCF for the Bessdoon Restaurant using the indirect method. Income Statement Sales Depreciation Other expenses Operating income Loss on sale of equipment $300,000 $ 8,000 284,000 292,000 8,000 Loss on sale of marketable securities Net income Changes in balance sheet accounts: Cash Marketable securities Accounts receivable (1,000) (2,000) $ 5,000 Increase (Decrease) $ 10,000 (5,000) 18,000 5,000 Inventories Prepaid expenses (2,000) Property and equipment 10,000 Accounts payable (6,000) Accrued payables 1,000 Dividends payable 2,000 Current portion of long-term debt 12,000 Long-term debt meldont 24,000 Equity accounts 3,000
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