Selected data derived from the income statement and balance sheet of Williams Sonoma, Inc., a specialty retailer

Question:

Selected data derived from the income statement and of Williams Sonoma, Inc., a specialty retailer of kitchen products, for a recent year are as follows:
Income Statement Data (dollars in thousands):
Net earnings ..............$75,096
Depreciation .............81,594
Loss on sale of fixed assets .........3,950
Other noncash income ...........7,242
Balance Sheet Data (dollars in thousands):
Decrease in ........$ 6,025
Decrease in merchandise inventories ....33,793
Increase in prepaid expense ........4,511
Increase in accounts payable
and other accrued expenses ........4,156
Increase in income tax payable .......12,145
Prepare the cash flows from operating activities section of the statement of cash flows (using the indirect method) for Williams Sonoma for the year.

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Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...