Business, 21.07.2021 01:00 kfolston4478
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2018 fiscal year was $664,000. Depreciation and amortization expense of $95,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
Decrease in accounts receivable $30,000
Increase in inventories 10,000
Increase prepaid expenses 9,300
Increase in salaries payable 10,800
Decrease in income taxes payable 19,000
Required:
Prepare the operating activities section of the 2018 statement of cash flows.
Answers: 2
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Cemptex Corporation prepares its statement of cash flows using the indirect method to report operati...
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