Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pear Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Pear Company Income Statement Year

image text in transcribed

Pear Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Pear Company Income Statement Year Ended Year 5 Sales Revenue Interest Revenue $250,000 3000 Gain on Sale of Plant Assets 5800 Total Revenues and Gains $258,800 Cost of Goods Sold 122,000 Salary Expense 44,000 Depreciation Expense 13,000 Other Operating Expenses 20,000 Interest Expense 1900 Income Tax Expense 5100 Total Expenses 206,000 Net Income (Loss) $52,800 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1500. Compute the net cash provided by (used for) operating activities.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting in an Economic Context

Authors: Jamie Pratt

9th edition

9781118803035, 1118582551, 1118803035, 978-1118582558

More Books

Students also viewed these Accounting questions

Question

The basic function of a firewall is traffic filtering. True False

Answered: 1 week ago