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Selected data ( in thousands ) derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows: Income
Selected data in thousands derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows:
Income statement data:
Net income
Gain on disposal of property
Depreciation expense
Other items involving noncash expenses
Balance sheet data:
tableIncrease in accounts receivable,Decrease in inventory,Increase in prepaid expenses,Decrease in accounts payable,Decrease in accrued and other current liabilities,
a Prepare the "Cash flows from used for operating activities"
section of the statement of cash flows, using the indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above.
Cardinas Corp.
Cash Flows from Operating Activities
in thousands
Line Item Description
Amount
Amount
Cash flows from used for operating activities:
$
Adjustments to reconcile net income to net cash flows from used for operating activities:
Depreciation
Gain on disposal of property
Other items involving noncash expenses
Changes in current operating assets and liabilities:
Increase in accounts receivable
Decrease in inventory
Increase in prepaid expenses
Decrease in accounts payable
Decrease in accrued and other current liabilities
Net cash flows from operating activities
$
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