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The following information pertains to Guys Gear Company: Sales $ 80,000 Expenses: Cost of Goods Sold $ 50,000 Depreciation Expense 6,000 Salaries and Wages Expense
The following information pertains to Guys Gear Company:
Sales | $ 80,000 | |
---|---|---|
Expenses: | ||
Cost of Goods Sold | $ 50,000 | |
Depreciation Expense | 6,000 | |
Salaries and Wages Expense | 12,000 | 68,000 |
Net Income | $ 12,000 | |
Accounts Receivable Decrease | $ 4,000 | |
Inventory Increase | 8,000 | |
Salaries and Wages Payable Increase | 750 |
Required:
Present the operating activities section of the statement of cash flows for Guys Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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