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Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company Partial Balance Sheets as of December 31 Assets 2016 2015 Cash
Partial balance sheets and additional information are listed below for Sowell Company.
| Sowell Company | |||
| Partial Balance Sheets | |||
| as of December 31 | |||
| Assets | 2016 | 2015 | |
| Cash | $40,000.00 | $20,000.00 | |
| Accounts receivable | 70,000.00 | 85,000.00 | |
| Inventory | 40,000.00 | 35,000.00 | |
| Liabilities | |||
| Accounts payable | 54,000.00 | 62,000.00 |
|
Additional information for 2016:
Net income was $88,000
Depreciation expense was $19,000
Required:
Prepare the operating activites section of the statement of cash flows for 2016 using the indiect method.
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