FIIS! Attempt 1 Question 1 (12 points) Listen Part 1: Cash Flow Statements 1. (12 points) Prepare the operating activities section of Cash Flow Statement Gameloft Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2013 fiscal year was $57,000. Depreciation and amortization expense of $18,320 was included with operating expenses in the income staterhent. The following information describes the changes in current assets and liabilities other than cash: Decrease in A/R $20,000 Increase in inventories 19,000 Increase in salaries payable 5,000 Decrease in taxes payable 1,000 Cash flows from operating activities: Net income 1) Adjustments for noncash effects: 2) 3) Adjustments for noncash effects: 2) 3) Change in operating assets and liabilities: 4). 5)... 6). 7). 8). 10). 11) Net cash flows from operating activities 12). Blank # 1 A Blank # 2 A/ Blank # 3 Blank #4 A Blank # 5 Blank # 6 Blank # 1 Blank # 2 Blank # 3 Blank #4 Blank # 5 Blank # 6 Blank # 7 Blank #8 Blank #9 Blank # 10 Blank # 11 Blank # 12