1.

Prepare the operating activities section of the statement of cash flows, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Net Income
Increase in Accounts Receivable
Decrease in Inventory
Increase in Salaries and Wages Payable
Dividends paid
Net Cash Flow from Operating Activities

+

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Suppose your company reports $200 of net income and $48 of cash dividends paid, and its comparative balance sheet indicates the following.

	Beginning			Ending
Cash	$	43		$	243
Accounts Receivable		115			213
Inventory		285			173
Total	$	443		$	629
Salaries and Wages Payable	$	18		$	90
Common Stock		140			102
Retained Earnings		285			437
Total	$	443		$	629