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The following information is for FloorCo, Inc. for the year just ended: End of year Beginning of year $ Current assets: Cash Accounts receivable Inventory
The following information is for FloorCo, Inc. for the year just ended: End of year Beginning of year $ Current assets: Cash Accounts receivable Inventory Prepaid expenses 75,000 $ 158,000 285,000 11,000 90,000 140,000 246,000 16,000 Current liabilities Accounts payable Accrued liabiities Income taxes payable 284,000 9,500 27,000 302.000 11,200 24,000 Net Income $ 94,500 Accumulated depreciation total credits $ 45,000 Floor Company did not record any gains or losses during the year. Prepare a schedule of net cash provided by operating activities. FloorCo, Inc. Operating Activities Section of the Statement of Cash Flows Net income Adjustments to reconcile net income to net cash provided by operations: Depreciation Sheet1 +
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