k. "Cash flows from financing activities" title 12 I. Net cash provided (used) by investing activities.... 9 m. Cash (and equivalents) balance at current period-end . $ # $ # For each of the following three separate cases X, Y, and Z, compute cash flows from operations using the indirect method. The list includes all balance sheet accounts related to cash from operating activities. Case X Case Y Case 2 + Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease). Accounts payable increase (decrease) Accrued liabilities increase (decrease) $ 4,000 30,000 40,000 (20,000) 24,000 (44,000) $100,000 8,000 20,000 (10,000) (22,000) 12,000 $72,000 24,000 (4.000) 10,000 14,000 (8,000) Use the following information to determine this company's cash flows from operating activities using the indirect method. MOSS COMPANY Income Statement MOSS COMPANY For Year Ended December 31, 2017 Selected Balance Sheet Information December 31, 2017 and 2016 Sales $515,000 Cost of goods sold 331,600 2017 2016 183,400 Gross profit NEED-TO-KNOW 12-2 A company's current-year income statement and selected balance sheet data at December 31 of the cur- rent and prior years follow. Prepare only the operating activities section of the statement of cash flows Reporting Operating using the indirect method for the current year. Cash Flows (Indirect) Income Statement Selected Balance Sheet Accounts P2 For Current Year Ended December 31 At December 31 Current Yr Prior Yr Sales revenue $120 Accounts receivable $12 $10 Expenses Inventory 9 Cost of goods sold 50 Accounts payable 7 11 Depreciation expense 30 Salories payable 8 3 Salaries expense. 17 Interest payable 1 0 Interest expense 3 Net income $ 20 6 Solution Cash Flows from Operating Activities Indirect Method For Current Year Ended December 31 $20 $30 Cash flows from operating activities Net income. Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense.... Changes in current assets and current liabilities Increase in accounts receivable Decrease in inventory Decrease in accounts payable Increase in salaries payable Increase in interest payable Net cash provided by operating activities 12) 3 (4) 5 33 Do More: QS 12-3, OS 12-4, E 12-4, E 12-5. E 12-6 $53