9:38 FinancialAccounting_ISM_Ch16.... PA4. LO 16.3 Use the following information from Coconut Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Dec 31, 2018 Dec 31, 2017 Cash 5201,000 $175.000 Accounts Receivable 22.000 21.500 Inventory 33.750 30.500 Prepaid Rene 6.000 2.000 Accounts Payable 19.500 28.750 Additional information: Net income 55.000 Depreciation expense 11.500 Solution Operating Activities Net Income Depreciation Expense Accounts Receivable Inventory Prepaid Rent Accounts Payable Net cash flows from operating activities PAS. LO 16.3 Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. From the Dec. 31, 2018, balance sheet, changes from prior year. Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable From the 2018 Income Statement Gain from sale of investments Depreciation Depense Net Income $ 7.600 2200 12.000 14.000 1900 2500 79.300 Solution Operating Activities Net Income Depreciation Expense Gain from sale of investments Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable Net cash flows from operating activities Add back Reversal Cash impact Cash impact Cash impact Cash impact Cash impact