ZUMBRUNN COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 230000 Less cash payments: Increase in Accounts Receivable -10000 Increase in Accounts Payable 18000 12000 Net Cash Provided by Operating Activities 318000 blem 17-04A (Video) e income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 $7,700,000 Sales revenue Cost of goods sold Beginning inventory $1,900,000 Purchases 4.400,000 6,300,000 Goods available for sale Ending inventory 1.400.000 4,900,000 Total cost of goods sold Gross profit Operating expenses 2,800,000 1,150,000 Net income $1,650,000 Additional information! 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. 2. Prepaid expenses increased $150,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased $100,000 during the year. 5. Operating expenses include depreciation expense of $70,000. Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities For Operating Expenses $ Add cash payments: $ $ LINK TO TEXT ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 $970,000 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes $624,000 60,000 16,000 700,000 Income tax expense 270,000 40,000 Net income $230,000 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes payable $75,000 46,000 11,000 $65,000 28,000 7,000 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Sh ZUMBRUNN COMPANY Partial Statement of Cal ZUMBRUNN COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income 230000 Less cash payments: Increase in Accounts Receivable -10000 Increase in Accounts Payable 18000 12000 Net Cash Provided by Operating Activities 318000 blem 17-04A (Video) e income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 $7,700,000 Sales revenue Cost of goods sold Beginning inventory $1,900,000 Purchases 4.400,000 6,300,000 Goods available for sale Ending inventory 1.400.000 4,900,000 Total cost of goods sold Gross profit Operating expenses 2,800,000 1,150,000 Net income $1,650,000 Additional information! 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. 2. Prepaid expenses increased $150,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased $100,000 during the year. 5. Operating expenses include depreciation expense of $70,000. Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities For Operating Expenses $ Add cash payments: $ $ LINK TO TEXT ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 $970,000 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes $624,000 60,000 16,000 700,000 Income tax expense 270,000 40,000 Net income $230,000 Zumbrunn's balance sheets contained the comparative data at December 31, shown below. 2020 2019 Accounts receivable Accounts payable Income taxes payable $75,000 46,000 11,000 $65,000 28,000 7,000 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Sh ZUMBRUNN COMPANY Partial Statement of Cal