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View Policies Current Attempt in Progress Larkspur Company reported net income of $200,000 for the current year. Depreciation recorded on buildings and equipment amounted
View Policies Current Attempt in Progress Larkspur Company reported net income of $200,000 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: End of Year Beginning of Year Cash $21,000 $17,000 Accounts receivable: 24,000 33.000 Inventory 52,000 66,000 Accounts payable 14,700 18,800 L 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 eg.-15,000 or in parenthesis e.g. (15,000).)
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