Consider Am With An Anu E U Saved Help Save & Exhd 12 Homework Assignment 6 Chec Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end information is provided. 32:47 $2,308,000 1,130,920 1.177.080 SONAD COMPANY Income statement Por Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $316, 196 Depreciation expense 55,392 Rent expense 62,316 Amortization expenses-Patents 6,924 Utilities expense 25,388 466,216 710,864 9,232 720,096 Cain on sale of equipment Net income Mocounts receivable Inventory $13,750 increase 16,500 increase Accounts payable salaries payable $10, 475 decrease 2,400 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be Indicated with a minus sign.) Prepare the operating activities section of the statement of cash flows using the indirect method (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Amortization expense-Patents Gain on sale of equipment Changes in current operating assets and liabilities Increase in accounts receivable Increase in inventory Decrease in accounts payable Decrease in salaries payable Net cash provided by operating activities Prev 1 of 4 !!! Next >