Use the information from BE23.4 for Bloom SA. Prepare the cash flows from operating activities section of Bloom’s 2022 statement of cash flows using the indirect method.

BE23.4

Bloom SA had the following 2022 income statement.

Sales revenue ......................................................................................... €200,000
Cost of goods sold .................................................................................... 120,000
Gross profit .................................................................................................. 80,000
Operating expenses (includes depreciation of €21,000) ....................... 50,000
Net income ............................................................................................... € 30,000

The following accounts increased during 2022: accounts receivable €12,000, inventory €11,000, and accounts payable €13,000. Prepare the cash flows from operating activities section of Bloom’s 2022 statement of cash flows using the direct method.