ACC220 Lab 7 - Ch.17 A Question 2 of 7 < > View Policies -/12 E Current Attempt in Progress The current assets and liabilities sections of the comparative balance sheet of Pharoah Inc., a private company reporting under ASPE at October 31 are presented below, along with the income statement: PHAROAH INC. Comparative Balance Sheet Accounts 2024 2023 Cash $112,860 $119,700 Accounts receivable 72.960 46,740 Inventory 37,050 52.440 Prepaid expenses 8.550 6,612 Accounts payable 49,020 41,040 Accrued expenses payable 5,700 9.120 Dividends payable 27.360 19.380 Income tax payable 7,752 13,452 PHAROAH INC. Income Statement Year Ended October 31, 2024 Sales $712,500 Cost of goods sold 444,600 Gross profit 267,900 Operating expenses Depreciation expense Loss on sale of equipment Profit before income taxes $100,320 26.220 9.120 135,660 132.240 Income tax expense 33,060 Profit for the year $99.180 Prepare the operating activities section of the cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a sign eg.-15,000 or in parenthesis eg. (15,000)) PHAROAH INC. Cash Flow Statement (Partial)-Indirect Method October 31, 2024 Net Cash Provided by Operating Activities Profit for the Year Adjustments to reconcile profit to 99,180 eTextbook and Media Save for Later Last saved 1 second ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 0 of 2 used Submit Answer SUPPORT