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Cain Inc. reports net income of $16,000 its comparative balance sheet shows the following changesaccounts receivable increased $7,000 inventory decreased $9,000, prepaid insurance decreased $2,000;
Cain Inc. reports net income of $16,000 its comparative balance sheet shows the following changesaccounts receivable increased $7,000 inventory decreased $9,000, prepaid insurance decreased $2,000; accounts payable increased $4.000 and taxes payable decreased $3,000 Compute cash flows from operations using the Indirect method (Amounts to be deducted should be indicated by a minus sign.) Cash Flows from Operating Activities (Indirect) Not income Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and liabilities S 16.000 $ 16.000 Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and liabilities 16.000 Accounts payable Accounts receivable Accrued liabilities Depreciation Inventory 16,000 Cash Flows from Operating Activities (Indirect) Net income Adjustments to reconcile net income to net cash provided by operating activities Changes in current assets and liabilities 16,000 Accrued liabilities Depreciation Inventory Prepaid insurance Taxes payable 16,000
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