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MOSS COMPANY Selected Balance Sheet Information December 31, 2015 and 2014 2015 2014 Current assets Cash $ 93,150 $ 35,300 Accounts receivable 33,500 49,000 Inventory
MOSS COMPANY Selected Balance Sheet Information December 31, 2015 and 2014 | ||||
2015 | 2014 | |||
Current assets | ||||
Cash | $ | 93,150 | $ | 35,300 |
Accounts receivable | 33,500 | 49,000 | ||
Inventory | 68,500 | 55,800 | ||
Current liabilities | ||||
Accounts payable | 47,400 | 34,200 | ||
Income taxes payable | 2,900 | 3,900 | ||
MOSS COMPANY Income Statement For Year Ended December 31, 2015 | ||||
Sales | $ | 569,000 | ||
Cost of goods sold | 365,600 | |||
Gross profit | 203,400 | |||
Operating expenses | ||||
Depreciation expense | $ | 53,000 | ||
Other expenses | 130,500 | 183,500 | ||
Income before taxes | 19,900 | |||
Income taxes expense | 11,100 | |||
Net income | $ | 8,800 | ||
Use the information above to calculate this companys cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) |
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