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The accounting records of United Company provided the data below. Net Income Depreciation expense Increase in salaries payable Increase in accounts receivable Decrease in inventory
The accounting records of United Company provided the data below. Net Income Depreciation expense Increase in salaries payable Increase in accounts receivable Decrease in inventory Amortization of patent Decrease in premium on bonds payable $40,000 12,000 11,000 14,000 4,800 700 500 Required: Show all work A. Based on the information provided, determine the net cash flows from operating activities for United Company. Provide your response and work in the space below B. Determine the Quality of Income for United Company. Specify if it is of low quality or high quality and briefly explain. Provide your responses and work in the space below
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