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Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data
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 $147,986 Loss on disposal of property (101) Depreciation expense 13,977 Other items involving noncash expense 730 Balance sheet data (in thousands): Increase in accounts receivable Increase in inventory 12,856 6,801 Increase in prepaid expenses Increase in accounts payable and other current liabilities 10,180 17,809 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. x] Open spreadsheet 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: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation expense Loss on disposal of property Other items involving noncash expense Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventory Increase in prepaid expenses Increase in accounts payable and other current liabilities Net cash flows from operating activities
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