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2. Able Company - here is the income statement for the year 2006 and partial B/S info. Income Statement Service revenue Expenses $52,000 Salaries
2. Able Company - here is the income statement for the year 2006 and partial B/S info. Income Statement Service revenue Expenses $52,000 Salaries Depreciation $42,000 7,000 Amortization of copyrights 300 Other expenses 8,700 58,000 Net loss ($ 6,000) Partial Balance Sheet 2006 2005 Accounts receivable $ 8,000 $20,000 Salaries payable 12,000 3,000 Other accrued liabilities 1,000 5,000 In addition, Able bought a small service machine for $5,000 in 2006. Prepare the operating activities section of the statement of cash flows using the indirect method.
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