Question
Gutierrez Company reported net income of $194,300 for 2017. Gutierrez also reported depreciation expense of $46,800 and a loss of $5,900 on disposal of equipment.
Gutierrez Company reported net income of $194,300 for 2017. Gutierrez also reported depreciation expense of $46,800 and a loss of $5,900 on disposal of equipment. The comparative balance sheet shows an decrease in accounts receivable of $19,800 for the year, a $21,800 increase in accounts payable, and a $3,400 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
please include all answers and calculations. thank you
GUTIERREZ COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income toStep by Step Solution
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