Financial Statements of Simon Co. Assignment | Top Universities

The financial statements of Simon Co. include the following items (amounts in thousands):

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Income Statement For the Year Ended December 31, 2017
Net income $ 432
Depreciation and amortization expense 313
At December 31
Balance Sheets 2017 2016
Accounts receivable $ 145 $ 185
Inventory 184 109
Accounts payable 32 146
Income taxes payable 72 15

Required:

a. Calculate the net cash flow provided (used) by operations for Simon Co. for the year ended December 31, 2017. (Enter your answer in thousands. (i.e., 20,000 should be entered as 20))

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Net cash provided (used) by operating activities

b. Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement. Get Accounting homework help today

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