Question
Exercise 23-6 Bridgeport Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue $848,000 Operating expenses (excluding depreciation)
Exercise 23-6 Bridgeport Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue $848,000 Operating expenses (excluding depreciation) $628,000 Depreciation expense 61,000 Loss on sale of equipment 26,000 715,000 Income before income taxes 133,000 Income tax expense 40,000 Net income $93,000 Bridgeport's balance sheet contained the following comparative data at December 31. 2017 2016 Accounts receivable Accounts payable $37,000 39,000 $52,000 32,000 Income taxes payable 4,000 8,400 (Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) BRIDGEPORT COMPANY Statement of Cash Flows (Partial) Adjustments to reconcile net income to
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