ESSAY. Write your answer in the space provided or on a
separate sheet of paper.
12) Nashville Records Company uses the indirect method to
prepare its statement of cash flows. Refer to the following
sections of the comparative balance sheet:
Nashville Records Company
Comparative Balance Sheet
December 31, 2018 and 2017
2018
2017 Increase (Decrease)
Accounts
Payable
$
6,000
$
9,000
$(3,000)
Accrued
Liabilities
3,000
1,500
1,500
Long-term Notes
Payable
126,000
135,000
(9,000)
Total
Liabilities ...