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Use the following information from Dobby House Corp to create the Cash Flow from Operations Section of the Cash Flow Statement using the indirect method.
Use the following information from Dobby House Corp to create the Cash Flow from Operations Section of the Cash Flow Statement using the indirect method. Note: You may not have sufficient information to prepare a complete cash flow statement but you do have enough to do just the Cash Flow from Operations section. (20 points) Dobby House Corp Income Statement Year Ended December 31, 2016 Net Sales Revenue $150,000 Cost of Goods Sold 100,000 Gross Profit 50,000 Operating Expenses Salaries Expense $10,000 Depreciation Expense Plant Assets 2,100 Other Operating Expenses $4,000 Total Operating Expenses 16,100 Net Income 33,900 Dobby House Corp Comparative Balance Sheet (Partial - Current Assets & Liabilities Only) December 31, 2016 and 2015 2016 2015 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets $11,000 1,000 14,000 $26,000 $9,000 1,500 12,000 $22,500 Libilities Current Liabilities Accounts payable Accrued Liabilities Total Current Liabilities $5,800 8,700 $14,500 $4,300 7,300 $11,600
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