Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet
Question:
Presented below are selected balance sheet information and the income statement for Burch Company.
Selected Balance Sheet Information
Income Statement
For the year ended December 31, 2019
Sales ......................................... $ 250,000
Cost of goods sold ......................... (160,000)
Depreciation expense ....................... (15,000)
Other expenses .............................. (35,000)
Income tax expense ........................ (12,000)
Net income .................................. $ 28,000
Required:
Compute the net cash flows from operating activities using the indirect method?
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