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In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available:
| Net income for the year was | $ | 76,000 | |
| Accounts payable increased by | 20,400 | ||
| Accounts receivable decreased by | 27,400 | ||
| Inventories increased by | 9,800 | ||
| Depreciation expense was | 37,200 | ||
Net cash provided by operating activities was:
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Financial Accounting
Authors: David Spiceland
6th Edition
1265889716, 978-1265889715
