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Windsor Company reported net income of $460,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of
Windsor Company reported net income of $460,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Cash Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable End of Year $24.500 17,500 52,500 7,300 10.700 Beginning of Year $15,000 30,500 65,500 5,600 15,600 1,190 560 Prepare the cash flows from the operating activities section of the statement of cash flows 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).) WINDSOR COMPANY Partial Statement of Cash Flows TA Adjustments to reconcile net income to > > > $ Save for later
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