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Following are the income statement and some additional information for Garolina Consulting Company Carolina Consulting Conpany Incone Statement For the Year Ended December 31, 2818
Following are the income statement and some additional information for Garolina Consulting Company Carolina Consulting Conpany Incone Statement For the Year Ended December 31, 2818 $11,888 (1,788) 9, 38 Net sales Cost of goods sold Gross margin Operating expenses Depreciation expense Income before taxes Income taxes Net income $ 2,200 1,888 3,289 6,180 1,800 $ 4,see All sales were on credit and accounts receivable decreased by $920 in 2018 compared to 2017 Merchandise purchases were on credit with a decrease in accounts payable of $720 during the year Ending inventory was $520 larger than beginning inventory Income taxes payable increased $320 during the year All operating expenses were paid for in cash Required Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indiceted with a minus sign.) Cash Flows from Operating Activities Net cash flows from operating activities
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