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Problem 9 During 20X6, Brymer Hotel earned net income of $258,000. Included on its income statement for 20X6 was depreciation expense of $150,000. Its current
Problem 9 During 20X6, Brymer Hotel earned net income of $258,000. Included on its income statement for 20X6 was depreciation expense of $150,000. Its current asset and liability accounts at the beginning and end of 20X6 had balances as follows: The Statement of Cash Flows 211 March 31 20X5 25,000 142,000 $ Cash Accounts receivable 20X6 Food inventory $ 35,000 137,000 Prepaid insurance 38,000 48,000 Accounts payable 3,000 7,000 Accrued payroll 56,000 65,000 Taxes payable 15,000 18,000 12,000 Dividends payable 14,000 30,000 Current maturities of LTD 45,000 50,000 60,000 In addition, sales of equipment and investments during 20X6 were as follows: 1. A range costing $10,000 with a $1,000 net book value (NBV) at the time of sale was sold for $2,500. 2. Investments costing $60,000 were sold for $50,000. 3. A van with a NBV of $3,000 was sold for $1,000. t obre Required: Xio broasteran as belebot Prepare the cash flows from operating activities section of the SCF. med
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