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The following information pertains to Satellite Company: Income Statement for 2012 Sales $ 85,500 Expenses Cost of goods sold $ 51,675 Depreciation expense 6,600 Salaries
The following information pertains to Satellite Company: |
Income Statement for 2012 | ||
Sales | $ | 85,500 |
Expenses | ||
Cost of goods sold | $ | 51,675 |
Depreciation expense | 6,600 | |
Salaries expense | 11,400 | 69,675 |
Net income | $ | 15,825 |
Partial Balance Sheet | 2012 | 2011 | ||
Accounts receivable | $ | 10,300 | $ | 12,700 |
Inventory | 12,200 | 8,700 | ||
Salaries payable | 1,610 | 990 |
Required: |
Present the operating activities section of the statement of cash flows for Satellite Company using the indirect method.(Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.) |
Statement of Cash Flows | |
(Click to select)Net incomeNet loss | $ |
(Click to select)Sale of equipmentDecrease in accounts payableAccounts receivableDeferred revenueDepreciation expense | |
(Click to select)Accounts receivable decreaseDecrease in taxes payableAccounts receivable increaseAccumulated depreciationIncrease in prepaid expense | |
(Click to select)Decrease in prepaid expenseIncrease in taxes payableInventory decreaseIncrease in accounts payableInventory increase | |
(Click to select)Salaries payable increaseSalaries payable decreaseSale of marketable securitiesPayment of dividendsDepreciation and amortization | |
Net cash(Click to select)used inprovided byoperating activities | $ |
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