Operating Activities Section-Indirect Method The following account balances for the noncash current assets and current liabilities of Suffolk Company are available: 2017 $42,980 29,940 16,860 $89,780 $89,470 $26,120 $18,980 5,540 10,210 15,220 $46,880 12,430 $41,620 Net income for 2017 is $42,430. Depreciation expense is $21,220. Assume that all sales and all purchases are on account. Required: Accounts receivable Inventory Prepaid rent Totals Accounts payable Income taxes payable Interest payable Totals December 31 Cash Provided by Operating Activities 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 2016 $34,630 40,330 14,510 2. Net cash inflow from operating activities is $ Adjustments to reconcile net income to net cash provided by operating activities: and the primary reason why it is higher than net income is Other reasons for the higher amount of net cash inflow from operating activities are and

Goenetis Aitvein shet in-1hirest Aneted Eesereth Goenetis Aitvein shet in-1hirest Aneted Eesereth