Question: Determine Jamisons cash flow from operations using both the direct and indirect methods.

Information:

Jamison Companys income statement for 20X6 is below.

Selected Balance Sheet Accounts from the Beginning and End of 20X6

Jamison Company Income Statement As of 12/31/X6 Revenue Cost of Goods Sold Gross Profit Depreciation Expense Other Expenses Earnings Before Tax Tax Expense Net Income $76,450 (40,740) 35,710 (8,240) (19,000) 8,470 (2,076) $6,394 1/1/X6 12/31/X6 Accounts Receivable Inventory Prepaid Expenses Accounts Payable Salaries Payable Taxes Payable $32,590 23,100 13,970 39,870 22,030 12,490 $34,090 35,020 11,340 44,960 17,440 11,230