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Rapture Companys 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands). RAPTURE COMPANY Income Statement For Year
Rapture Companys 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands). RAPTURE COMPANY Income Statement For Year Ended December 31, 2011 Sales revenue $58,600 Expenses Cost of goods sold 21,000 Depreciation expense 6,000 Salaries expense 11,000 Rent expense 2,500 Insurance expense 1,900 Interest expense 1,800 Utilities expense 1,400 Net income $ 13,000 RAPTURE COMPANY Selected Balance Sheet Accounts At December 31 2011 2010 Accounts receivable $380 $390 Inventory 99 77 Accounts payable 120 130 Salaries payable 44 35 Utilities payable 11 8 Prepaid insurance 13 14 Prepaid rent 11 9 Required: Prepare the cash flows from operating activities section only of the companys 2011 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.) I know this is correct I just do not know how to get the amounts. Thanks. Cash flow from operating activities ? Cash receipts from customers ? Cash payments for salaries ? Cash payments for utilities ? Cash payments for rent ? Cash payments for insurance ? Cash payments for interest ? Cash payments for suppliers ? Net cash provided by operating activities
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