The income statement of Marin Company is shown below. MARIN COMPANY INCOME STATE
ID: 2576066 • Letter: T
Question
The income statement of Marin Company is shown below.
MARIN COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2017
$7,030,000
$1,950,000
4,600,000
6,550,000
1,680,000
4,870,000
2,160,000
500,000
640,000
1,140,000
$1,020,000
Additional information:
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2017, for Marin Company, 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).)
Adjustments to reconcile net income to
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MARIN COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31, 2017 Amount $ Operating Activities Net Income 10,20,000 Adjustments: Non-Cash adjustment: Depreciation 60,000 Due to changes in Working capital Due to changes in accounts receivable 3,30,000 Due to changes in accounts payable -2,70,000 Due to changes in prepaid expenses -1,60,000 Due to changes in accrued expenses -1,20,000 Net Cash provided (used) by operating activities 8,60,000
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