Question
Portions of the financial statements for Security Solutions are provided SECURITY SOLUTIONS Income Statement For the year ended December 31, 2021 Revenues Expenses: $960,000 Cost
Portions of the financial statements for Security Solutions are provided SECURITY SOLUTIONS Income Statement For the year ended December 31, 2021 Revenues Expenses: $960,000 Cost of goods sold $650,000 Operating expenses 210,000 Depreciation expense 25,000 Income tax expense 20,000 Total expenses 905,000 Net Income $ 55,000 SECURITY SOLUTIONS Selected Balance Sheet Data December 31, 2021 Increase in accounts receivable $ 5,000 Decrease in inventory 10,000 Increase in prepaid rent 4,000 Decrease in salaries payable 6,000 Increase in accounts payable 8,000 Decrease in income tax payable 3,000 Required: Prepare the operating activities section of the statement of cash flows fo outflows and any decrease in cash as negative amounts.)
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