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Problem 4 (5 points) Plough Company reported net income of $180,000 for the current year. the current asset and current liability accounts at the
Problem 4 (5 points) Plough Company reported net income of $180,000 for the current year. the current asset and current liability accounts at the beginning and end of the year are as follows: Cash Accounts receivable Inventories Prepaid expenses Accounts payable Income taxes payable Instructions End of Year $20,000 24,000 50,000 9,500 12,000 1,600 Beginning of You $15,000 32,000 65,000 5,000 18,000 1,200 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. act
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