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Bookmarks Other Bookmar Ch. 12 hw Saved Help Save & Exit Submit Check my work 3 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Selected 2017 Income Statement DataSelected Year-End 2017 Balance Sheet Data 10 points Net income Depreciation expense Gain on sale of machinery $400,000 Accounts receivable increase 80,000 Prepaid expenses decrease 20,000 Accounts payable increase $40,000 12,000 6,000 2,000 Wages payable decrease Skipped eBook Hint Print References Cash flows from operating activities Adjustments to reconcile net income to operating cash flow Next >

Explanation / Answer

Cash flow from operating activities :

Net income 400000 Adjustment to reconcile net income to operating cash flows Depreciation expense 80000 Gain on sale of machine (20000) Account receivable increase (40000) Prepaid expense decrease 12000 Account payable increase 6000 Wages payable decrease (2000) Net cash flow from operating activities 436000

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