In: Accounting
The records of True Color Engraving reveal the? following:
Net income |
$42,000 |
Depreciation expense |
$9,000 |
|
Sales revenue |
54,000 |
Decrease in current liabilities |
31,000 |
|
Loss on sale of land |
5,000 |
Increase in current assets other than cash |
7,000 |
|
Acquisition of land |
36,000 |
Compute cash flows from operating activities by the indirect method for year ended December? 31, 2018. ?(Use parentheses or a minus sign for numbers to be subtracted and to show net cash used for operating activities. If a box is not used in the? table, leave the box? empty; do not select a label or enter a? zero.)
True Color Engraving
Statement of Cash Flows (Partial)
Year Ended December 31, 2018
Cash Flows from Operating Activities:
Net Income ____________
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used for) Operating Activities:
________________________________________ ___________
________________________________________ ___________
A BUNCH OF BLANKS
Net Cash Provided by (Used for) Operating Activities ______________
Cash Flow from Operating Activities:
Net Income |
$ 42,000.00 |
|
Adjustments to reconcile Net Income to Net Cash |
||
Provided by Operating activities: |
||
Depreciation expense |
$ 9,000.00 |
|
Loss on sale of land |
$ 5,000.00 |
|
Decrease in Current liabilities |
$ (31,000.00) |
|
Increase in Current assets other than cash |
$ (7,000.00) |
$ (24,000.00) |
Net Cash Provided by Operating Activities |
$ 18,000.00 |