mathxl.com Do Homework Do Homework - Hinree Issa Do Homework - Hinree Issa + ACCT 1090 V0851 2020 Summer (B) Hinree Issa | 06/19/20 1:23 AM Homework: Week #1 Chapter #1 Save Score: 0 of 1 pt 2 of 5 (1 complete) HW Score: 20%, 1 of 5 pts E16-19 (similar to) :3 Question Help The records of Rainbow Color Engraving reveal the following: Net income $ $ 2,000 25,000 Depreciation expense 51,000 Decrease in current liabilities 6,000 Increase in current assets other than cash Sales revenue Loss on sale of land Acquisition of land 29,000 8,000 40,000 Compute cash flows from operating activities by the indirect method for year ended December 31, 2016. (Use parentheses or a minus sign for numbers to be subtracted and to show net cash used for operating activities. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) 25,000 Rainbow Color Engraving Statement of Cash Flows (Partial) Year Ended December 31, 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense Loss on Sale of Land Increase in Current Assets Other than Cash 2,000 6,000 (8,000) Decrease in Current Liabilities (29,000) (29,000) Net Cash Provided by (Used for) Operating Activities 21,000 Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Check