The comparative statement of financial position for Wildhorse Corporation shows the following noncash current asset...
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Accounting
The comparative statement of financial position for Wildhorse Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $65,000 $46,500 Inventory 78.000 64,500 Accounts payable 33,500 41,000 Dividends payable 1,000 2,000 Wildhorse's income statement reported the following selected information for the year ended March 31, 2018: net income was $270,000, depreciation expense was $64,000, and a loss on the disposal of land was $15,000. Wildhorse uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WILDHORSE CORPORATION Statement of Cash Flows (Partial)-Indirect Method Operating activities Adjustments to reconcile net income to $ $
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