Homework answers / question archive / Use the following information to perform the calculations below (using the indirect method)

Use the following information to perform the calculations below (using the indirect method)

Accounting

Share With

Use the following information to perform the calculations below (using the indirect method). Net income $400,000 Beginning accounts payable $110,000 Depreciation expense 90,000 Ending accounts payable 140,000 Beginning accounts receivable 420,000 Purchase of long-term assets 600,000 Ending accounts receivable 430,000 Issuance of long-term debt 200,000 Beginning inventory 510,000 Issuance of stock for cash 150,000 Ending inventory 550,000 Issuance of stock for long-term assets 100,000 Beginning prepaid insurance 40,000 Purchase of treasury stock 60,000 Ending prepaid insurance 46,000 Sale of long-term investment at cost 50,000 (a) Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flows from operating activities $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer