Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pic is split because had to scroll Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income

pic is split because had to scroll image text in transcribed
image text in transcribed
Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Ohio, Inc Income Statement Year Ended December 31, 2018 Revenues and Gains: Sales Revenue $159,000 Interest Revenue 6,200 Total Revenues and Gains Expenses and Losses: Cost of Goods Sold $130,000 Salary Expense 18,000 Depreciation Expense 7.300 $165,200 Other Operating Expenses Interest Expense Loss on Sale of Plant Assets Income Tax Expense Total Expenses and Losses Net Income (Loss) 13,500 16,400 5,200 5,800 196,200 $(31,000) Additional information provided by the company includes the following: Current assets, other than cash, decreased by $5,000. Current liabilities increased by $2,500. Compute the net cash provided by (used for) operating activities. O A. $(11,000) O B. $16,200 O c. $10,200 O D. $(38,500)

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_2

Step: 3

blur-text-image_3

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

Guide To Conducting Internal Audits Of Your Management Systems

Authors: Martin Pykett

1st Edition

B099C3GPMH, 979-8538997749

More Books

Students also viewed these Accounting questions