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The income statement of Waterway Company is presented here. Additional information: 1. Accounts receivable decreased $392,600 during the year, and inventory decreased $362,300. 2. Prepaid
The income statement of Waterway Company is presented here. Additional information: 1. Accounts receivable decreased $392,600 during the year, and inventory decreased $362,300. 2. Prepaid expenses increased $168,900 during the year. 3. Accounts payable to suppliers of inventory decreased $337,000 during the year. 4. Accrued expenses payable decreased $102,300 during the year. 5. Administrative expenses include depreciation expense of $106,900. 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).) 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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