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During a recent year, Nicole s Getaway Spa ( NGS ) reported net income of $ 3 , 0 5 0 . The company reported
During a recent year, Nicoles Getaway Spa NGS reported net income of $ The company reported the following activities:
Increase in inventory of $
Depreciation of $
Increase of $ in prepaid expenses.
Payments of $ on longterm debt.
Purchased new spa equipment for $
Payments on accounts payable exceeded purchases by $
Collections on accounts receivable exceeded credit sales by $
Issued $ of common stock.
Required:
Based on this information, prepare a statement of cash flows for the year ended December using the indirect method. Assume the cash balance at the beginning of the year was $
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