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Question 2 Portions of the financial statements for Security Solutions are provided below. Security Solutions Income Statement For the Year Ended December 31, 2021 $960,000
Question 2 Portions of the financial statements for Security Solutions are provided below. Security Solutions Income Statement For the Year Ended December 31, 2021 $960,000 Revenues Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net Income $650,000 210,000 25,000 20,000 905,000 $55,000 Security Solutions Selected Balance Sheet Data December 31, 2021 Increase in accounts receivable Decrease in inventory Increase in prepaid rent Decrease in salaries payable Increase in accounts payable Decrease in income tax payable 5,000 10,000 4,000 6,000 8,000 3,000 Required: Prepare the operating activities section of the statement of cash flows for Security Solutions using the indirect method
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