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Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative and
Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative and show all your calculations. Net income Depreciation expense Beginning accounts receivable 420,000 Purchase of long-term assets Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance 119,000 146,000 612,000 220,000 180,000 110,000 64,000 56,000 Beginning accounts payable Ending accounts payable $401,000 97,000 439,000 516,000 550,000 Issuance of long-term debt Issuance of stock for cash Issuance of stock for long-term assets 42,000 Purchase of treasury stock. 48,000 Sale of long-term investment at cost Calculate the amount of cash flows from operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flows from operating activities Calculate the amount of cash flows from investing activities. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flows from investing activities Calculate the amount of cash flows from financing activities. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flows from financing activities Calculate the net change in cash. Net change in cash
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