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computing cash from operations brinkerhoff inc had the following operating balances 693031

Computing Cash from Operations

Brinkerhoff Inc. had the following operating balances for 2008:

 

December 31, 2008

January 1, 2008

Accounts Payable                                

$57,200

$69,500

Inventory                                      

34,400

37,300

Accounts Receivable                              

84,000

89,500

All purchases of inventory were on account.

Brinkerhoff provides the following income statement information for 2008:

Revenues                                                                    

$ 980,000

Cost of goods sold                                                             

(400,000)

Other expenses                                                               

(136,000)

Depreciation expense                                                           

(107,000)

Loss on sale of equipment                                                         

(12,000) 

Net income                                                                  

$ 325,000  

Compute cash from operations.

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