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11. Income Statement Sales $425,000 Depreciation $35,000 Other Expenses 50,000 85,000 Operating income 340,000 Loss on Sale of Marketable Securities (15,000) Loss on Sale
11. Income Statement Sales $425,000 Depreciation $35,000 Other Expenses 50,000 85,000 Operating income 340,000 Loss on Sale of Marketable Securities (15,000) Loss on Sale of Equipment (23,000) Net Income 302,000 Changes in balance sheet accounts: Cash Inventories Taxes payable Accounts Payable Accrued Payables Pre-paid expenses Dividends Payable Current Portion of Long-term Debt Long-term Debt Marketable Securities Increase (Decreas $14,000 35,000 (22,000) (7,000) 15,000 (4,000) 2,000 3,000 18,000 (10,000) Prepare the operating activities section of the SCF for the above business using the indirect method.
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