Mail - S X W St. Loui X In Course x a Amazor X BBL JBL Pul X & Uber vs X Look U X Ellucian X Tn Fall 202 x Course X Cengac X . table_9 x . table_9 x MindTa x | Order s x | C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false NO Chapter 12 eBook Show Me How Video Calculator Operating Activities Section-Indirect Method 1. Ex. 12.02 The following account balances for the noncash current assets and current liabilities of Suffolk Company are available: 2. EX. 12.03.ALGO December 31 3. EX. 12.04 2017 2016 Accounts receivable 4. EX. 12.05 $42,780 $35,410 Inventory 30,310 39,620 5. EX. 12.06.ALGO Prepaid rent 16,570 14,790 Totals $89,660 $89,820 6. EX. 12.14.ALGO Accounts payable $26,220 $19,050 Income taxes payable 6,370 9,570 7. EX. 12.17 Interest payable 15,060 12,340 Totals $47,650 $40,960 8. EX. 12.18.ALGO Net income for 2017 is $37,310. Depreciation expense is $20,040. Assume that all sales and all purchases are on account. 9. PR. 12.01.ALGO Required: 1. Prepare the Operating Activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash payments, cash outflows, or decreases in cash. Suffolk Company Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Provided by Operating Activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense v Increase in accounts receivable v Decrease in inventory v Increase in prepaid rent v Increase in accounts payable v Decrease in income taxes payable v Increase in interest payable v Net cash inflow from operating activities v 300000 Progress: 8/9 items Check My Work Previous Next Assignment Score: 56.31% All work saved. Email Instructor Save and Exit Submit Assignment for GradingMail - S X W St. Loui X In Course x a Amazor X BBL JBL Pul X & Uber vs X Look U X Ellucian X Tn Fall 202 x Course x Cengac X , table_9 x . table_9 x MindTa x | Orders x | # v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false NO Chapter 12 eBook Show Me How Video Calculator 1. Ex. 12.02 1. Prepare the Operating Activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash payments, cash outflows, or decreases in cash. Suffolk Company 2. EX. 12.03.ALGO Partial Statement of Cash Flows For the Year Ended December 31, 2017 3. EX. 12.04 Cash Provided by Operating Activities 4. EX. 12.05 Net income v Adjustments to reconcile net income to net cash provided by operating activities: 5. EX. 12.06.ALGO Depreciation expense v 6. EX. 12.14.ALGO Increase in accounts receivable v 7. EX. 12.17 Decrease in inventory v Increase in prepaid rent v 8. EX. 12.18.ALGO Increase in accounts payable v 9. PR. 12.01.ALGO Decrease in income taxes payable v Increase in interest payable v Net cash inflow from operating activities v 108000 Feedback Check My Work 2. Net cash inflow from operating activities is $ and the primary reason why it is higher than net income is depreciation v . Other reasons for the higher amount of net cash inflow from operating activities are increase in accounts payable v and decrease in inventory v Feedback Check My Work Feedback Check My Work Progress: 8/9 items Check My Work Previous Next Assignment Score: 56.31% All work saved. Email Instructor Save and Exit Submit Assignment for GradingMail - S X W St. Loui X In Course x a Amazor X BBL JBL Pul X & Uber vs X Look U X Ellucian X In Fall 202 x Course X Cengac X table_9 x . table_9 x MindTa x | Orders x | C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false NO Chapter 12 eBook Show Me How Video Calculator Operating Activities Section-Indirect Method 1. Ex. 12.02 The following account balances for the noncash current assets and current liabilities of Suffolk Company are available: 2. EX. 12.03.ALGO December 31 3. EX. 12.04 2017 2016 Accounts receivable $42,780 $35,410 4. EX. 12.05 Inventory 30,310 39,620 Prepaid rent 16,570 14,790 5. EX. 12.06.ALGO Totals $89,660 $89,820 6. EX. 12.14.ALGO Accounts payable $26,220 $19,050 Income taxes payable 6,370 9,570 7. EX. 12.17 Interest payable 15,060 12,340 Totals $47,650 $40,960 8. EX. 12.18.ALGO Net income for 2017 is $37,310. Depreciation expense is $20,040. Assume that all sales and all purchases are on account. 9. PR. 12.01.ALGO Required: 1. Prepare the Operating Activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash payments, cash outflows, or decreases in cash. Suffolk Company Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Provided by Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: Progress: 8/9 items Check My Work Previous Next Assignment Score: 47.22% Email Instructor Save and Exit Submit Assignment for Grading