New Vision Company completed its income statement and balance sheet and provided the following information:...
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New Vision Company completed its income statement and balance sheet and provided the following information: $67,700 Service Revenue Expenses: Salaries and Wages Depreciation Utilities office $43,700 7,470 6,850 1,870 59,890 7,810 Net Income $13,700 5,850 9,850 4,675 Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change
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