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Cash Flow Statement : Operations Section Next Company uses the Indirect Method to prepare the Statement of Cash Flows. A review of the Financial Statements
Cash Flow Statement : Operations Section Next Company uses the Indirect Method to prepare the Statement of Cash Flows. A review of the Financial Statements at 12/31/20 indicate the following items:
Depreciation Expense $18,000
Net Income Year Ended 12/31/20 73,500
Increase in Inventory 28,000
Decrease in Accounts Receivable 17,000
Increase in Account Payable 15,000
Decrease in Notes Payable 12,000
REQUIRED: Using Proper Form, Prepare the Operations Section of the Cash Flow Statement at 12/31/20.
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