The two independent cases are listed below: Case A Case B Year 2 Year 1 Year 2 Y

Question

The two independent cases are listed below: Case A Case B Year 2 Year 1 Year 2 Year 1 Sales Revenue Cost of Goods Sold Gross Profit Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Inventory Accounts Payable $10,600 $ 7,000 $20,600 $ 16,000 5,640 3,900 11,640 9,340 4,9603,100 8,960 6,660 1,200 1,200 300 1,300 4,600 760 580 760 900 390 4,600 300 3,060 710 710 840 310 2,100 1,660 280 730 760 1,600 360 460 680 980 1,160 alaries and Wages Payable Show the operating activities section of the statement of cash flows for year 2 using the indirect method (Amounts to be deducted should be indicated with a minus sign.) Case A Case B et Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation Expense Changes in Assets and Liabilities Accounts Receivable Inventory Accounts Payable Salaries and Wages Payable et Cash Provided by Operating Activities

Explanation / Answer

Particulars Case A Case B Net Income 1660 3060 Adjustments to reconcile net Income to Net Cashprovided by operating Activities Depreciation Expense 1200 1300 2860 4360 Change in Assets & Liabilities Accounts Receivable (360- 280)= 80 (580-710) = (130) Inventory (460-730) = (270) (760-710) = 50 Accounts Payable (760-680)= 80 (840-900) = (60) Salaries & wages Payable (980-1160)= (180) (310-390) =(80) (290) (220) Net Cash provided by Operating Activities 2570 4140

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