I am supposed to prepare a partial statement of cash flows and as far as I know, I have completed it but it keeps telling me it is incomplete. Can you tell me where I still need info?
6 Assignments Seved The following income statement and selected balance sheet account date are aveilable for Treece, Inc., at December 31, 2018. TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2018 Revenue: Net sales $2, 850,e00 104,e00 70,eee Dividend income Interest incose ook Gain on sales of marketable 4,eee securities Total revenue and gains Costs and expenses: Cost of goods sold Operati Interest expense Inco ta ense Total costs and expenses $3,e28,eee nt $1,550,eee es 980,ee0 nces 185,e00 98, 2,805,eee Net income $ 223,000 End Beginning of Year of Year Selected account balances: $ 650,000 9,eee 808,0e0 20,000 Accounts receivable 720,000 Accrued interest receivable Inventories 6,000 765,000 Short-term prepayments 15,000 Accounts payable (serchandise suppliers) Accrued operating expenses payable Accrued interest payable Accrued income taxes payable 570,000 562,e0e 65,eee 21,eee 22,000 94.000 12,000 35,000 Additional Information 1. Dividend revenue is recognized on the cosh basis. All othner income stotement ammounts are recognized on the accrusl basis 2 Operating expenses include depreciation expense of $15,000. Required: Prepare o portial ststement of cash flows for the current year, showing the computstion of net cash fows from opersting sactivities by the ind rect method. 3 or 7 Prev ype here to search Required: Prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities by the Indirect method. 1.28 Answer is not complete. oints TREECE, INC. Partial Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities 223,000 Net income Addition: s 70.000 Decrease in accounts receivable 8.000 Increase in acoounts payable to suppliers 0.000 Increase in acorued interest payable 115.000 Depreciation expense 202,000 s 425,000 Subtotal Deduction: 35.000 Increase in inventories 5.000 Increase in short-term prepayments Decrease in accrued operating expenses payable 20.000 13.000 Decrease in acorued inome taxes payable 3.000 Increase in socrued interest receivable Next> 3 of 7 Prev Mc Gravw Tutatson Type here to search