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Let's Do This, Inc. had an operating income of $35,000 for the year just ended....

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Accounting

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Let's Do This, Inc. had an operating income of $35,000 for the year just ended. Balances in the company's current asset and current liability accounts at the beginning and of the year were as follows: Beginning Ending Cash $30,000 $40,000 Accounts Receivable $125,000 $106,000 Inventory $213,000 $180,000 Accounts Payable $210,000 $195,000 The company reported $350,000 in Sales Revenue and a Gross Profit of $140,000. Depreciation expense totaled $8,000. Using the direct method, compute the company's cash flow from operating activities for the year. (Assume that all sales are made on account and that only inventory purchases are included in accounts payable.) $ 21.00

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