(155) is wrong

Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate con Suppose the income statement for Goggle Company reports $155 of net income, after deducting depreciation of $20. The company bought equipment costing $135 and obtained a long-term bank loan for $140. The company's comparative balance sheet, at December 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and for decrease). 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income 155 Check my work mode : This shows what is correct or incorrect you GOGGLE COMPANY $ 155 Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation 20 Increase in Accounts Receivable X $ (155) Changes in Current Assets and Current Liabilities 3:35 185 Decrease in Inventory Increase in Salaries and Wages Payable 55 260 Cash Flows from Investing Activities: Equipment Purchased (135) (135) Cash Flows from Financing Activities: 140 140 305 50 $ 355 Sign.) GOGGLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation $ Increase in Accounts Receivable $ OL OSAA Cash, Beginning of Current Year Cash, End of Current Year Decrease in Accounts Receivable Decrease in Inventory Equipment Purchased (13 ht OT Cash Flows For the Year Ended December 31 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Increase in Accounts Receivable $ $ (15 Decrease in Salaries and Wages Payable Depreciation 18 Equipment Purchased 55 Increase in Accounts Receivable Increase in Inventory Equipment Purchased (135)