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Help please! Brief Exercise 23-5 Blossom Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation
Help please! Brief Exercise 23-5 Blossom Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $20,000) Net income $220,000 116,000 104,000 54,000 $50,000 The following accounts increased during 2017: Accounts Receivable $11,000, Inventory $10,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Blossom's 2017 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (1,000).)
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