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all of the highlighted rectangles need to be filled in Saved Hel Bryant Co. reports net income of $20,000. For the year, depreciation expense is
all of the highlighted rectangles need to be filled in
Saved Hel Bryant Co. reports net income of $20,000. For the year, depreciation expense is $7,000 and the company reports a gain of $3,000 from sale of machinery. It also had a $2,000 loss from retirement of notes. Compute cash flows from operations using the Indirect method. (Amounts to be deducted should be indicated by a minus sign.) $ 20,000 Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Gain on sale of machinery Loss on retirement of notes 7,000 (3.000) 2,000 $ 26.000
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