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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 $246,000 Interest Revenue 2,600 Gain on Sale of Plant Assets 5.500 Total Revenues and Gains $254,100 Cost of Goods Sold 119,000 Salary Expense 44.000 Depreciation Expense 14,000 Other Operating Expenses 21,000 Interest Expense 1.900 Income Tax Expense 5.500 Total Expenses 205.400 Net Income (Loss) S48.700 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,500. Compute the net cash provided by used for) operating activities
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