Exercise 12-3 Tamarisk, Inc. reported net income of $173,950 for 2017. Tamarisk,

Question

Exercise 12-3 Tamarisk, Inc. reported net income of $173,950 for 2017. Tamarisk, Inc. also reported depreciation expense of $31,940 and a loss of S4,870 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,030 for the year, a $16,080 increase in accounts payable, and a $3,650 increase in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash low with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Tamarisk, Inc. Partial Statement of Cash FlowNS 4 Adjustments to reconcile net income to

Explanation / Answer

Statement of Cash Flow Particulars Amount Total Amount Income         173,950.00 Loss on disposal of plant assets              4,870.00 Depreciation            31,940.00 Increase in AR         (14,030.00) Increase in prepaid expenses            (3,650.00) Increase in AP            16,080.00 Cash flow from operating activities         209,160.00

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