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7. The following changes in balance sheet accounts for Alvaros Autos Inc. for 2016: DR CR Cash $25,000 Accounts receivable 27,000 Inventory 15,000 Prepaid insurance

7. The following changes in balance sheet accounts for Alvaros Autos Inc. for 2016:

DR CR

Cash $25,000

Accounts receivable 27,000

Inventory 15,000

Prepaid insurance 5,000

Accounts payable 12,000

Retained Earnings 30,000

Total Changes $57,000 $57,000

There were no dividends declared or paid in 2016.

Prepare the cash flow from operations on an indirect basis.

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