The Income Statement Disclosed The Following Items For The Year: Depreciation Expense $57,000 Gain On Disposal Of Equipment $24,000 Net Income $542,000 The Changes In The Current Asset And Liability Accounts For The Year Are As Follows: Increase (Decrease) Accounts Receivable $9,800 Inventory ($5550) Prepaid Insurance ($1,000) Accounts Payable ($3,700) Income Taxes Payable $1,440 Dividends Payable $2,200 Prepare The Cash Flows From (used For) Operating Activities Section Of The State Of Cash Flows, Using The Indirect Method. Use The Minus Sign To Indicate Cash Outflows, Cash Payments, Decreases In Cash, Or Any Negative Adjustments

Nursing

The income statement disclosed the following items for the year: Depreciation expense $57,000 Gain on disposal of equipment $24,000 Net Income $542,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $9,800 Inventory ($5550) Prepaid insurance ($1,000) Accounts Payable ($3,700) Income taxes payable $1,440 Dividends payable $2,200 Prepare the Cash Flows from (used for) Operating Activities section of the state of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments

- November 14, 2022 - Edwin Tunner

Cash Flow from (used for) Operating Activities

The income statement disclosed the following items for the year:

Depreciation expense $57,000

Gain on disposal of equipment $24,000

Net Income $542,000

The changes in the current asset and liability accounts for the year are as follows:

Increase

(Decrease)

Accounts receivable $9,800

Inventory ($5550)

Prepaid insurance ($1,000)

Accounts Payable ($3,700)

Income taxes payable $1,440

Dividends payable $2,200

Prepare the Cash Flows from (used for) Operating Activities section of the state of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments

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