Question
For the following operating cash flow items, enter in the designated cells the amounts that will be reported in Kerns statement of cash flows. Indicate
For the following operating cash flow items, enter in the designated cells the amounts that will be reported in Kerns statement of cash flows. Indicate negative numbers by using a leading minus (-) sign. Enter amounts without $ signs and decimals in the format xxx,xxx or -xxx,xxx
Cash flows from operating activities: Amount Net income $305,000
Adjustments to reconcile net income to net cash provided by operating activities:
1. Depreciation
2. Amortization of patent
3. Loss on sale of equipment
4. Equity in income of Word Corp.
5. Gain on sale of trading securities
6. Decrease in securities fair value adjustment
7. Increase in accounts receivable
8. Decrease in inventories
9. Decrease in accounts payable and accrued liabilities
10. Net cash provided by operating activities $
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