Question
Hamburger Heaven's income statement for the current year and selected balance sheet data for the current a December 31 are presented below. Income Statement Sales
Hamburger Heaven's income statement for the current year and selected balance sheet data for the current a December 31 are presented below. Income Statement Sales Revenue Expenses: Cost of Goods Sold 37 Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income $2,160 920 220 520 270 82 62 52 $ 34 Selected Balance Sheet Accounts Inventory Accounts Receivable Accounts Payable Salaries/Wages Payable Utilities Payable Current Year Prior Year $ 86 $ 62 390 470 210 230 33 22 22 64 4 11 13 Prepaid Rent Prepaid Insurance TIP: Prepaid Rent decreased because the amount taken out of Prepaid Rent (and subtracted from net income as F more than the amount paid for rent in cash during the current year. Required: 4 01:54:35 Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amounts to deducted should be indicated with a minus sign.) HAMBURGER HEAVEN Statement of Cash Flows (Partial) For the Year Ended December 31 Cash Flows from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: w Total Adjustments Prev 44 of 44
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