? c ii Seoure l https://eduqen.wileyolus.com..ed Kimmel, Ac counting, Gc PRIN. O

Question

? c ii Seoure l https://eduqen.wileyolus.com..ed Kimmel, Ac counting, Gc PRIN. OF ACCT 1811 (ACCT 2101) Problem 12-3A Sendhill Co, Income Slstement For the Yeur Lnded November 3U, 201 Sales rev Cost of goods sold 7,G08,300 Beginning inventary 1.404.30 4.482,E00 6.385,90 1,584,80o Ending invantory Total coat or aoode sold Grosz profit Uperating expenses 2,800,200 450,100 713,000 1,1G3,100 Net income 51,703,10 Additicnal infermation: 1. Atcounts recaivable decreased $375,uo0 during the ver, and invertorr decreased 319,500 2. Prepaid epenses incressed $147,000 during the year 3. Accountc payable to supplicrs ot merchandisc decreascd $343,500 durina te ycar 4. Atcrued expenses perable decressed $100,700 during the year 5. Administrative expenses indcude depreciatinn exne a 108,000 Prepare the operating acthiti rectionat the tatement ot cash tlons tor the yar ended Nowember 30, 2017, tor SandhlI Ca., uing the Indiract mathod. (Show anounts that docrease cash low with cithera-sign o.o.-15,000 r in parenthesis .a.(1S,000. Cash Flows Ajustments to recaileneincome tn

Explanation / Answer

Sandhill co Partial Statement of Cash flow For the year ending Nov 30,2017 Cash from operating activities Net income for the year 1,703,100 Adjustments to reconcile net income to net cash flow from operating activities Depreciation expense 108,000 Decrease in accounts receivable 375,000 Decrease in inventory 319,500 increase in prepaid expense -147,000 decrease in accounts payable -343,500 decrease in accrued expenses -100,700 211,300 net cash flow from operating activities 1,914,400

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