Porky Company reported net income of ($195,000) for 2002. Porky also reported depreciation expense of ($35,000), and

Question:

Porky Company reported net income of $$195,000$ for 2002. Porky also reported depreciation expense of $$35,000$, and a loss of $$5,000$ on the sale of equipment. The comparative balance sheets show an increase in accounts receivable of $$15,000$ for the year, an $$8,000$ increase in accounts payable, and a decrease in prepaid expenses $4,000

Instructions
Prepare the operating activities section of the statement of cash flows for 2002 using the indirect method.

Fantastic news! We've Found the answer you've been seeking!