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Bridgeport Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $23,000) Net income $180,000
Bridgeport Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $23,000) Net income $180,000 115,000 65,000 54,000 $11,000 The following accounts increased during 2020: Accounts Receivable $13,000, Inventory $10,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Bridgeport's 2020 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Bridgeport Corporation Statement of Cash Flows-Indirect Method (Partial) Adjustments to reconcile net income to
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