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Unformatted text preview: Cash paid for inventory $(248,000) Cash paid for salaries (124,600) Cash paid for interest (11,700) Cash paid for income taxes (42,200) Cash paid for other expenses (97,600) (524,100) Net cash provided by operating activities $146,300 (b) Indirect Method Operating Activities: Net Income $102,300 Add: Depreciation $51,000 Increase in Accounts payable 1,300 Increase in income taxes payable 1,800 Decrease in prepaid expenses 1,100 55,200 Less: Increase in accounts receivable $(5,000) Increase in inventory (5,800) Decrease in interest payable (400) (11,200) Net cash provided by operating activities $146,300 f...
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This note was uploaded on 08/12/2011 for the course ACCT 2201 taught by Professor Alvarez during the Spring '11 term at FIT.
- Spring '11