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can you please help me check my answers and explain how you got it. thank you! Kennedy, Inc. reported the following data: Net income. $162,701
can you please help me check my answers and explain how you got it. thank you!
Kennedy, Inc. reported the following data: Net income. $162,701 Depreciation expense 12,555 Loss on disposal of equipment (8,782) Gain on sale of building 18,341 Increase in accounts receivable 7,198 Decrease in accounts payable (3,466) Prepare the cash flows from operating activities section of the statement of cash flows using the Indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: - V 162,701 Adjustments to reconcile net income to net cash flow from operating activities: 12.555 -8.702 X Increase in accounts receivable 7,198 Decrease in accounts payable (3,466) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating activities: Net income - V 162,701 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense 12555 Loss on disposal of equipment -8.782 X Gain on sale of building - V 18.341 Changes in current operating assets and liabilities: Increase in accounts receivable Decrease in accounts payable Net cash flow from operating activities: X 7,198 X -3,466 189.147 X Step by Step Solution
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