Bloom Corporation had the following 2025 income statement. The following accounts increased during 2025: Accounts Receivable $12,000,

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Bloom Corporation had the following 2025 income statement.

The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom’s 2025 statement of cash flows using the direct method.

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Intermediate Accounting

ISBN: 9781119790976

18th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jun 27, 2023 04:12 AM

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Bloom Corporation had the following 2025 income statement. The following accounts increased during 2025: Accounts Receivable $12,000,

Question:

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

Step by Step Answer:

Cash flows from operating activities Cash receiv...View the full answer

Intermediate Accounting

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