Question
he following information was taken from the financial statements of Health and Racquet Company as of December 31, 20-B and 20-A. Net income $227,000 Balance
he following information was taken from the financial statements of Health and Racquet Company as of December 31, 20-B and 20-A.
Net income $227,000
Balance sheet data: 20-B 20-A
Accounts receivable $33,000 $28,000
Accounts payable 13,700 6,500
Required:
Compute cash flows from operating activities for 20-B. Use a minus to indicate any decreases in cash or cash outflows.
Health and Racquet Company
Statement of Cash Flows (Partial)
For the Year Ended December 31, 20-B and 20-A
Net income
$
227,000
Adjustments for changes in current assets and liabilities related to operating activities:
Increase in accounts receivable
Increase in accounts payable
Net cash provided by operating activities
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