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The following information is taken from the income statement of Pittsburg Inc. for 2019: $940,000 595,000 $345,000 Sales Cost of Goods Sold Gross Profit on
The following information is taken from the income statement of Pittsburg Inc. for 2019: $940,000 595,000 $345,000 Sales Cost of Goods Sold Gross Profit on Sales Operating Expenses Depreciation Other Operating Expenses Net Income from Operations $ 19,500 179,000 198,500 $146,500 Additional information relating to account balances at the beginning and end of the year appears below: Accounts Receivable Merchandise Inventory Accrued Liabilities Accounts Payable Jan. 1, 2019 $55,000 73,100 4,800 37,000 Dec. 31, 2019 $49, 100 77,000 2,400 28,100 Determine the cash flows from operations for 2019. (Amounts to be deducted should be indicated with a minus sign.) PITTSBURG INC. Statement of Cash Flows Year Ended December 31, 2019 Cash flows from operating activities Net income for year Adjustments to reconcile net income to cash used in operating activities: Total adjustments
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