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Prepare a statement of cash flows for JKL Corp for the year ended December 31, 20X1, using the indirect method. The following information is provided:
Prepare a statement of cash flows for JKL Corp for the year ended December 31, 20X1, using the indirect method. The following information is provided:
- Net Income: $150,000
- Depreciation Expense: $30,000
- Increase in Accounts Receivable: $20,000
- Increase in Inventory: $10,000
- Decrease in Accounts Payable: $15,000
- Gain on Sale of Equipment: $5,000
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Understanding financial statements
Authors: Lyn M. Fraser, Aileen Ormiston
9th Edition
136086241, 978-0136086246
