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MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets...

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Accounting

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MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $ 87,150 $29,300 Accounts receivable 27,500 37,000 Inventory 62,500 54,600 Current liabilities Accounts payable 35,400 28,200 Income taxes payable 2,300 2,700 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 41,000 Other expenses 124,500 Income before taxes Income taxes expense Net income $ 540,000 341,600 198,400 165,500 32,900 11,400 $ 21,500 Use the information above to calculate cash flows from operating activities using the indirect method (Amounts to E should be indicated by a minus sign.) 21 500 Cash flows from operating activities Net income Adjustments to reconcile net income to operating cash flow Depreciation Income taxes payable decrease Accounts receivable decrease Accounts payable increase Inventory increase 41.000 I Net cash provided by operating activities 50,500 72 000 S

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