E1 PC 1 AB C D E E FI 1 Exercise 15-32 Name: 2. Enter the appropriate amount or formula in the shaded cells. 3 An asterisk (*) will appear in the column to the right of an incorrect amount 4 Enter deductible amounts as negative values 5 6 Oliver Company 7 Operating Cash Flows 8 Direct Method 9 Cash flows from operating activities: Income 10 Statement Adjustments Cash Flows Revenues 13 Cost of goods sold 14 16 18 Depreciation expense Other expenses Net operating cash 20 21 22 23 25 Use the following information for Exercises 75-31 and 15-32: Oliver Company provided the following information for the years 2015 and 2016: Oliver Company Income Statement For the Year Ended December 31, 2016 Sales $ 75,000 Cost of goods sold (20,000) Depreciation expense (2.000) Other expenses (13,000) Net income S 40,000 Oliver Company Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Land Total assets S 24.600 5.400 8.000 160.000) 18.000 20.400 S200,400 S 64.600 9,200 6,000 175.000 120.000) 47,000 $281.800 S 8.60) Liabilities and equity Accounts payable Mortgage payable Stockholders cuts Total liabilities and equity 191.800 520000 S 10.000 40,000 221,800 S281,800 1. Calculate the change in cash flows that serves as the control figure fe flows. Prepare a schedule that provius operatsh flows for the year method. 3. Assume that you have all the information provi ed for Requirement know the beginning balance of accounts receivable for 2016. Give assuming that the operating cash flows for 2016 are $41,000, calcu for accounts receivable. 3 3 Exercise 15-32 Operating Cash Flows Refer to the information for Oliver Company on the previous page