QUESTION 3 (15 POINTS) T. St activities section of statement of cash flows for T

Question

QUESTION 3 (15 POINTS) T. St activities section of statement of cash flows for T. Steele Co. using the indirect method. eele Co. reports the following information for a recent calendar year. Prepare the operating Income Statement Data 400,500 Expenses Cost of Goods Sold...190,250 Salaries Expense.... 28,200 Depreciation Expense. 13,000 Net Income.... 95,300 Selected Year-End Balance Sheet Data Inventory increase. 5,500 Salaries Payable increase... Office Supplies increas. 2,000 775 QUESTION 4 (15 POINTS) luutod the following data for the year end December 31, 2017. Using the

Explanation / Answer

Cash Flows from Operating Activities: Net Income 95300 Adjustments for noncash effects: Depriciation expense 13000 Changes in operating assets and liabilities: Decrease in accounts receivable 1700 Inventory increase -5500 Salaries payable increase 2000 Office supplies increase 775 Net cash flows from operating activities 107275

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