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Cash Flows from Operating Activities—Indirect Method Staley Inc
Cash Flows from Operating Activities—Indirect Method
Staley Inc. reported the following data:
Net income$251,600
Depreciation expense54,200
Loss on disposal of equipment20,300
Increase in accounts receivable24,900
Increase in accounts payable12,600
IF Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Staley Inc.Statement of Cash Flows (partial)Cash flows from operating activities:
Adjustments to reconcile net income to net cash flow from operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Expert Solution
| Staley Inc. | ||
| Statement of Cash Flows (Partial) | ||
| Cash Flows from Operating Activities: | ||
| Net Income | 251600 | |
| Adjustments to reconcile net income to net Cash flow from operation activities | ||
| Depreciation expense | 54200 | |
| Loss on sale of equipment | 20300 | |
| Change in Current operation assets and liabilities: | ||
| Increase in accounts receivable | -24900 | |
| Increase in accounts payable | 12600 | |
| Net Cash Flow from Operating Activities | 313800 |
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