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Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method. Wonder Company Income Statement
Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method. Wonder Company Income Statement For Year Ended December 31, 2019 Sales 90,000 Cost of goods sold 52.000 Accounts receivable 39.000 Gross profit from sales Operating expenses Salaries expense Depreciation expense Rent expense Interest expense income from operations Loss on sale of land Net income Balance December 31, 2019 December 31, 2018 13.800 12,000 12.500 Merchandise inventory 11.150 10,000 3.500 3.600 Prepaid rent 250 275 200 20.550 17,450 1.750 Accounts payale 13.550 13.000 15.700 Salaries payable 5.200 4,500 interest payable 150 125
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