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reporting cash flows from operating activities indirect method the following informa 727372

Reporting Cash Flows from Operating Activities (Indirect Method) The following information pertains to Guy’s Gear Company:

Sales

 

$80,000

Expenses:

 

 

Cost of Goods Sold

$50,000

 

Depreciation Expense

6,000

 

Salaries Expense

12,000

68,000

Net Income

 

$12,000

Accounts Receivable decrease

$ 5,000

 

Merchandise Inventory increase

8,000

 

Salaries Payable increase

500

 

Required:

Present the operating activities section of the statement of cash flows for Guy’s Gear Company using the indirect method.

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