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The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31, 2020 Sales revenue $6,232,000 Cost of goods
The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31, 2020 Sales revenue $6,232,000 Cost of goods sold 3,800,000 Gross profit 2,432,000 Operating expenses $1,269,200 Depreciation expense 60,800 1,330,000 Profit before income tax $1,102,000 Income tax expense 385,700 Net income $716,300 Additional information: 1. Accounts receivable decreased $228,000 during the year. 2. Prepaid expenses increased $152,000 during the year. 3. Inventory decreased $304,000 during the year. 4. Accounts payable decreased $342,000 during the year. 5. Wages payable decreased $114,000 during the year. 6. Operating expenses included wages of $836,000. (a) Prepare the operating activities section of the cash flow statement for the year ended December 31, 2020 for Tamache Corporation, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15, 000 or in parenthesis e.g. (15,000).) TAMACHE CORPORATION Statement of Cash Flows (Partial) Year Ended December 31, 2020 Adjustments to reconcile profit to
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