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Following are the income statement and some additional information for Carolina Consulting Company. All sales were on credit and accounts receivable decreased by $ 1
Following are the income statement and some additional information for Carolina Consulting Company.
All sales were on credit and accounts receivable decreased by $ in compared to Merchandise purchases were on credit with a decrease in accounts payable of $ during the year. Ending inventory was $ larger than beginning inventory.
Income taxes payable increased $ 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.
Note: Amounts to be deducted should be indicated with a minus sign.
tableCash flows from operating activities:,Net cash flows from operating activities,$
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