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following summarized income statement and additional selected information for Trumansburg, Incorporated. Income Statement $150,800 Revenues 55,500 Cost of sales 95,300 Gross margin 55,400 Salary expense
following summarized income statement and additional selected information for Trumansburg, Incorporated. Income Statement $150,800 Revenues 55,500 Cost of sales 95,300 Gross margin 55,400 Salary expense 33,305 Depreciation and amortization 9,600 other expense (3,005) Net loss before tax 1,500 Income tax expense $(4,505) Net loss other information: 800 Decrease in receivables 230 Decrease in inventories 1,500 Increase in prepaid expenses 1,750 Increase in accounts payable 602 Decrease in accrued liabilities 1,280 Required: Based on this information, compute cash flow from operating activities using the direct method. Assume that prepaid expenses and accrued liabilities relate to other expense. Note: List cash outflows as negative amounts. TRUMANS
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