chew corporation prepares its statement of cash flows using the chew corporation pre 4138653

February 14, 2021/in Business Homework Help Online /by Joseph

Chew Corporation prepares its statement of cash flows using the

Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of $140,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:

Increase in accounts receivable………………………………….$ 152,000

Decrease in inventories……………………………………………108,000

Decrease prepaid expenses…………………………………………62,000

Decrease in salaries payable………………………………………..30,000

Increase in income taxes payable…………………………………..44,000

Required:

Calculate cash flows from operating activities for 2018.

Chew Corporation prepares its statement of cash flows using the

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