EXERCISE+12_6_12_7_12_8

EXERCISE+12_6_12_7_12_8 - EXERCISE 12-6 OSCAR CORPORATION...

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EXERCISE 12-6 OSCAR CORPORATION Statement of Cash Flows—Indirect Method For the Year Ended December 31, 2012 Cash flows from operating activities Net income. .................................................................... $284,100 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense. .......................................... $162,000 Increase in income taxes payable. ...................... 4,700 Decrease in accounts payable. ............................ (3,700) Increase in accounts receivable. ......................... (8,200) Increase in inventory. ........................................... (11,000 ) 143,800 Net cash provided by operating activities. ... 427,900 Cash flows from investing activities Sale of land. ........................................................... 35,000 Purchase of building. ............................................ (289,000 ) Net cash used by investing activities. .......... (254,000)
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EXERCISE+12_6_12_7_12_8 - EXERCISE 12-6 OSCAR CORPORATION...

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