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PilotLPTM [1.2K]
3 years ago
13

Partial balance sheets and additional iformation are listed below for Sowell Company.

Business
1 answer:
musickatia [10]3 years ago
3 0

Answer and Explanation:

The preparation of the operating activities section is presented below

Cash Flows from operating activities

Net Income $88,000

Adjustment made for non cash items:                  

Depreciation Expense $19,000

Add: Decrease in Account Receivable $15000 ($70,000 - $85,000)

Less: Increase in Inventory   $(5000) ($40,000 - $35,000)

Less: Decrease in accounts payable   $(8000) ($54,000 - $62,000)

Net cash flows from operating activities        $109,000

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