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The accounting records of Good, Inc., reveal: (Click the icon to view the data.) Requirements 1. Compute cash flows from operating activities using the
The accounting records of Good, Inc., reveal: (Click the icon to view the data.) Requirements 1. Compute cash flows from operating activities using the indirect method. 2. Evaluate the operating cash flow of Good, Inc. Give the reason(s) for your evaluation. Net income... $ 38,000 Depreciation expense.. 3,000 Sales revenue.... 9,000 Decrease in current liabilities..... 28,000 Loss on sale of land. . . . 5,000 Increase in current assets other than Cash ..... 11,000 Acquisition of land. 37,000 Requirement 1. Compute cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted.) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities: Net cash provided by (used for) operating activities Acquisition of land Decrease in current liabilities Depreciation expense Increase in current assets other than cash Loss on sale of land Proceeds from sale of land Sales revenue Requirement 2. Evaluate the operating cash flow of Good, Inc. Give the reason(s) for your evaluation. Operating cash flow is " as shown by the operating activities. strong ra weak as net cash provided by net cash used for adjustments provided by net income provided by
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