Question
Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Felix Company Income Statement Year
Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
Felix Company Income Statement Year Ended December 31, 2017 Sales Revenue $250,000 Interest Revenue 2,200 Gain on Sale of Plant Assets 5,100 Total Revenues and Gains $257,300 Cost of Goods Sold 124,000 Salary Expense 41,000 Depreciation Expense 14,000 Other Operating Expenses 23,000 Interest Expense 1,900 Income Tax Expense 5,200 Total Expenses 209,100 Net Income (Loss) $48,200
Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $20,000. 2. Current liabilities decreased by $1,500.
Compute the net cash provided by (used for) operating activities.
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