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Question 3 (chapter 13) The following balance sheets are provided for Sunshine Inc: Beginning of Year End of Year Cash and cash equivalents Accounts receivable

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Question 3 (chapter 13) The following balance sheets are provided for Sunshine Inc: Beginning of Year End of Year Cash and cash equivalents Accounts receivable $170,000 80,000 140,000 $120,000 65,000 130,000 Inventory Plant and equipment (net). Total assets 130.000 $520,000 80.000 $395.000 65,000 120,000 Accounts payable (for merchandise).. Wages payable Long-term liabilities Common stock Retained earnings Total liabilities and own S 35,000 110,000 70,000 100,000 80,000 $395.000 95.000 100,000 140,000 $520.000 rs' equity Selected information from Sunshine Inc. current year income statement Net Income. $55.000 Depreciation Expense. 8,000 Instructions On the basis of the above information, prepare a partial statement of cash flows, showing the computation of net cash flows from operating activities by the indirect method

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