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Calculating Net Cash Flow From Operating Activities (Indirect Method) The following information was obtained from Galena Company's comparative balance sheets. Assume that Galena Company's 2016
Calculating Net Cash Flow From Operating Activities (Indirect Method) The following information was obtained from Galena Company's comparative balance sheets. Assume that Galena Company's 2016 income statement showed depreciation expense of $9,600, a gain on sale of investments of $10.800, and net income of $54,000. Dec 31, 2016 Dec 31, 2015 Cash $23,000 $10,000 Accounts receivable 52,900 42.000 Inventory 66,000 58,300 Prepaiden 7,200 Lang.com investments 25,200 40,200 Flant assets 180,000 127.200 Accumulated depreciation 48,000 3R400 Accounts payable 28,800 20.000 Income tax payable 4,800 7,200 Cominon stock 145,200 110.400 Farained earrings 127,260 199,200 Calculate the net cash flow from operating activities using the indirect method. Instructions: Use negative signs with answers that reduce cash provided by operating activities. Enter accounts in alphabetical order, when needed. Net cash flow from operating activities Dec 31, 2016 $ n Add(deduct items to convert nec income tu cash basis Depreciation U Change in operating asse U . n U Prepaident Change in operating liabilities Accounts payaale n U Nel cast provided by operatives $ Please answer all parts of the
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