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The following information is provided for Green Bay Corporation. Balance Sheet Accounts 2018 Cash $60,000 2017 Accounts Receivable 75,000 $35,000 60,000 20,000 55,000 Inventory Buildings
The following information is provided for Green Bay Corporation. Balance Sheet Accounts 2018 Cash $60,000 2017 Accounts Receivable 75,000 $35,000 60,000 20,000 55,000 Inventory Buildings 30,000 55,000 36,000 25,000 Accounts Payable Accrued Payables 4,000 12,000 9,000 Accumulated Depreciation - Buildings 16,000 Income Statement Accounts 2018 $700,000 Sales Revenue Cost of Goods Sold Operating Expenses 490,000 125,000 Net Income 85,000 Additional data: Operating expenses include depreciation expense of $7,000. Accounts payable are all relevant to payments to suppliers. Accrued payables are all relevant to payments for operating expenses. Instructions: Prepare the net cash flow from operating activities section of the 2018 statement of cash flows using the direct method. Show all working and calculate payments to suppliers and payments for operating expenses separately
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