Blaylock Company provided the following partial comparative balance sheets and the income statement for 2016....
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Blaylock Company provided the following partial comparative balance sheets and the income statement for 2016. Blaylock Company Comparative Balance Sheets At December 31, 2015 and 2016 2015 2016 Current assets: Accounts receivable $747,000 $585,000 Inventories 296,000 318,000 Current liabilities Wages payable 699,000 514,000 Blaylock Company Income Statement For the Year Ended December 31, 2016 Revenues $3,010,000 Gain on sale of equipment 104,000 Less: Cost of goods sold (1,918,000) Less: Depreciation expense (276,000) Less: Interest expense (12,500) Net income $907,500 Compute operating cash flows using the indirect method.
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