Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data (in
Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data (in thousands): Net income $149,774 (149) Loss on disposal of property 13,226 Depreciation expense Other items involving noncash expense Balance sheet data (in thousands): 837 Increase in accounts receivable 13,041 Increase in inventory 7,565 10,548 Increase in prepaid expenses Increase in accounts payable and other current liabilities 17,464 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Co. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. National Beverage Co. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: 111 1101 I Net cash flows from operating activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started