2017 points MOSS COMPANY Selected Balance Sheet Information December 31, 2018 and 2017 2018 Current...
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2017 points MOSS COMPANY Selected Balance Sheet Information December 31, 2018 and 2017 2018 Current assets Cash $87,650 Accounts receivable 28,000 Inventory 63,eee Current liabilities Accounts payable 36,480 Income taxes payable 2,350 $29,800 38,800 54,700 28,780 2,800 eBook Hint Print MOSS COMPANY Income Statement For Year Ended December 31, 2018 Sales $ 545,800 Cost of goods sold 343,600 Gross profit 201,480 Operating expenses Depreciation expense $ 42,000 Other expenses 125,000 167,800 Income before taxes 34,480 Income taxes expense 12,100 Net income $ 22,300 References Use the information above to calculate this company's cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) $ 22,300 Cash flows from operating activities: Net income Adjustments to reconcile net income to operating cash flow Income statement items not affecting cash Depreciation expense $ 42,000 Changes in current operating assets and liabilities 42,000 64,300 $
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