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Below is an income statement and balance sheet with selected accounts. I need help creating the operating section of the statement of cash flows (using
Below is an income statement and balance sheet with selected accounts. I need help creating the operating section of the statement of cash flows (using the indirect method). Thank you.
Income Statement | Selected Balance Sheet Accounts | |||||||
2018 | 2018 | 2017 | ||||||
Sales revenue | 75,500 | Accounts receivable | 879 | 650 | ||||
Cost of sales | 30,809 | Inventory | 89,600 | 83,750 | ||||
Gross profit | 44,691 | Accounts payable | 4,120 | 5,230 | ||||
Depreciation expense | 7,008 | Salaries payable | 250 | 775 | ||||
Rent expense | 15,230 | Rent payable | 2,100 | 1,100 | ||||
Salaries expense | 18,000 | Interest payable | 500 | 575 | ||||
Interest expense | 219 | Long-term debt | 300 | 330 | ||||
Net Income | 4,234 | Common stock equity | 3,265 | 220 |
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