Question
Can you help me answer this question please? The following information is provided for Green Bay Corporation. Balance Sheet Accounts20182017 Cash$60,000$35,000 Accounts Receivable75,00060,000 Inventory30,00020,000 Buildings55,00055,000
Can you help me answer this question please?
The following information is provided for Green Bay Corporation.
Balance Sheet Accounts20182017
Cash$60,000$35,000
Accounts Receivable75,00060,000
Inventory30,00020,000
Buildings55,00055,000
Accounts Payable36,00025,000
Accrued Payables4,00012,000
Accumulated Depreciation - Buildings16,0009,000
Income Statement Accounts2018
Sales Revenue$700,000
Cost of Goods Sold490,000
Operating Expenses125,000
Net Income85,000
Additional data:
- Operating expenses include depreciation expense of $7,000.
- Accounts payable are all relevant to payments to suppliers.
- Accrued payables are all relevant to payments for operating expenses.
Instructions:
Prepare the net cash flow from operating activities section of the 2018 statement of cash flows using thedirect method. Show all working and calculate payments to suppliers and payments for operating expenses separately.
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