Brief Exercise 11-29 (Algorithmic) Determining Net Cash Flow from Operating Activities Burch Company reported the...
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Brief Exercise 11-29 (Algorithmic) Determining Net Cash Flow from Operating Activities
Burch Company reported the following items in its balance sheet and income statement: increase in cash account, $20,000; increase in accounts receivable, $5,000; increase in inventory, $20,000; increase in accounts payable, $10,000; decrease in income taxes payable, $1,000; net income, $70,000; depreciation expense, $25,000.
Required:
Compute the net cash flows from operating activities using the indirect method.
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