The following information pertains to Guys Gear Company: Sales ...
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Accounting
The following information pertains to Guys Gear Company:
Sales
$ 80,000
Expenses:
Cost of Goods Sold
$ 50,000
Depreciation Expense
6,000
Salaries and Wages Expense
12,000
68,000
Net Income
$ 12,000
Accounts Receivable Decrease
$ 4,000
Inventory Increase
8,000
Salaries and Wages Payable Increase
750
Required:
Present the operating activities section of the statement of cash flows for Guys Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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