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Suppose your company reports $240 of net income and $56 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts
Suppose your company reports $240 of net income and $56 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Beginning $ 51 Ending $ 281 155 251 325 $ 531 Salaries and Wages Payable $ 26 Common Stock Retained Earnings Total 180. 325 $531 211 $743 $ 130 104 509 $743 Required: 1. Prepare the operating activities section of the statement of cash flows, using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Dividends paid Net Cash Flow from Operating Activities $
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