Question
For the year ended Dec 31, 2019, Omni Company reported net income of $73,650; depreciation expense increased of $3,300, and recognized $6,700 loss on disposal
For the year ended Dec 31, 2019, Omni Company reported net income of $73,650; depreciation expense increased of $3,300, and recognized $6,700 loss on disposal of equipment.
In addition, current operating assets and liabilities from the companys comparative balance sheet were as follows:
Dec 31, 2019 Dec 31, 2018
Accounts Receivable $5,600 $4,635
Inventory $7,300 $4,500
Accounts Payable $6,750 $3,455
Based upon above information, please generate cash flows from operation activities in 2018.
Cash flows from operating activities: |
|
Net Income | $73,650
|
Adjustments to reconcile net income to net cash flow from operating activities |
|
Depreciation | $__________ |
Loss on Disposal of Equipment | $__________ |
Changes in current operating assets and liabilities (Put increase/decreased of current asset or current liability account) |
|
?_________________________ | $__________ |
?_________________________ | $__________ |
? _________________________ | $__________
|
Net Cash Flow from Operating Activities $___________
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