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Larkspur Company reported net income of $370,000 for the current year. Depreciation recorded on buildings and equipment amounted to $74,000 for the year. Balances of
Larkspur Company reported net income of $370,000 for the current year. Depreciation recorded on buildings and equipment amounted to $74,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign es, 15,000 or in parenthesis eg. (15,000).)
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