Tamarisk Corporation had the following 2017 income statement. $207,000 128,000 7

Question

Tamarisk Corporation had the following 2017 income statement. $207,000 128,000 79,000 50,000 $29,000 Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $23,000) Net income The following accounts increased during 2017: Accounts Receivable $10,000, Inventory $10,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Ta mansk's 2017 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a·sign e g-15 000 or in parenthesis e.g. (15,000).) Tamarisk Corporation Statement of Cash Flows-Indirect Method (Partial) Adjustments to reconcile net income to

Explanation / Answer

Tamarisk Corporation Statement of Cash flows - Indirect Method (Partial) For the Year ended 2017 Cash Flows from Operating activities Net Income $29,000.00 Adjustments to reconcile net income to net Cash provided by operating activities Depreciation $23,000.00 Increase in Accounts Receivables -$10,000.00 Increase in Inventory -$10,000.00 Increase in Accounts Payable $14,000.00 $17,000.00 Net Cash provided by Operating activities $46,000.00

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