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 $10,900 S 8,500 $20,900 $ 17,500 Sales Revenue Cost of Goods Sold 5,910 5,100 11,910 10,510 4,9903,400 8,990 6,990 1,200 1,200 1,450 1,450 Salaries and Wages Expense 2,400 1,900 4,900 4,900 640 595 790 900 360 Gross Profit Depreciation Expense 300 2,640 740 725 810 265 1,390 Net Income Accounts Receivable Inventory Accounts Payable Salaries and Wages Payable 295 745 790 9951,190 390 490 695 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 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Changes in Assets and Liabilities

Explanation / Answer

Case A Case B A Net Income          1,390          2,640 Adjustment to reconcileNet Income to net cash provided by operating activities: B Add:Non cash expense(Depreciation)          1,200          1,450 Change in Assets and Liabilities: Decrease/(Increase) in current assets: C Accounts receivable                95           (145) D Inventory           (255)                45 Increase/(Decrease) in current liabilities: E Accounts payable                95              (90) F Salaries and wages payable           (195)              (95) G=A+B+C+D+E+F Net Cash Flow from Operating Activities          2,330          3,805

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