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Comparing Cash Flows from Operating Activities (Indirect Method) (AP5-4) The accountants of National Supermarkets Inc. completed the statement of financial position at December 31, 2019
Comparing Cash Flows from Operating Activities (Indirect Method) (AP5-4) The accountants of National Supermarkets Inc. completed the statement of financial position at December 31, 2019 and the statement of earnings for the quarter ended on that date, and have provided the following information (in thousands of dollars): $470,200 Statement of Earnings For the Quarter Ended December 31, 2019 Sales revenue Expenses Cost of sales $341,600 Selling, general, and administrative expenses, including depreciation expense of $15,500 109,900 Interest 1,700 Income taxes 3,400 Net earnings 456,600 13,600 Selected Statement of Financial Position Accounts December 31, 2019 September 30, 2019 Accounts receivable $ 79,300 $ 74,000 Inventories 211,700 227,100 Prepaid expenses 7,200 8,700 112,100 115,000 Accounts payable Accrued liabilities 40,100 38,300 3,300 2,200 Income taxes payable Required: 1. Prepare the operating activities section of the statement of cash flows for the quarter ended December 31, 2019. Use the indirect method
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