The following income statement and information about changes in noncash current assets and current liabilities are reported. $1,828,000 991.000 837.000 SOAD COMPANY The statement Tor Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245, 535 Depreciation expense 40,200 Rent expense 49.600 Mortisation expenses Patent 4,200 unities expense Gain on sale of equipment Net Income 361, 660 475,340 6.200 481.540 $ Changes in current asset and current liability accounts for the year that relates to operations follow.
Accounts receivable Inventory ,500 increase 25.000 increase Accounts payable salaries payable $12.500 decrease 3,500 decreases Required: Prepare only the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amount deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities. Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash LLLL We were unable to transcribe this image. Get Accounting Homework Help Today
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