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The following information pertains to Guy's Gear Company: Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income. $ 50,000
The following information pertains to Guy's Gear Company: Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income. $ 50,000 6,000 12,000 $ 80,000 68,000 $ 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 Guy's Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GUY'S GEAR COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities 0
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