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The income statement of Carla Vista Company is presented here. Additional information: 1. Accounts receivable decreased $377,500 during the year, and inventory decreased $320,800. 2.
The income statement of Carla Vista Company is presented here. Additional information: 1. Accounts receivable decreased $377,500 during the year, and inventory decreased $320,800. 2. Prepaid expenses increased $148,900 during the year. 3. Accounts payable to suppliers of inventory decreased $353,900 during the year. 4. Accrued expenses payable decreased $101,100 during the year. 5. Administrative expenses include depreciation expense of $110,100. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a sign e.g. 15,000 or in parenthesis e.g. (15,000).)
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