Cash flow sheet - CROSBY CORPORATION Income Statement For...

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CROSBY CORPORATION Income Statement For the Year Ended December 31, 2008 Cash flows from operating activities: Net income (earnings after taxes) . . . . . . . . . . . . . . . . . . . . . $240,000 Adjustments to determine cash flow from operating activities: Add back depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150,000 Increase in accounts receivable ……………………………….(50,000) Increase in inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20,000) Decrease in prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . 20,000 Increase in accounts payable . . . . . . . . . . . . . . . . . . . . . . . . 150,000 Decrease in accrued expenses . . . . . . . . . . . . . . . . . . . . . . (20,000) Total adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ($230,000) Net cash flows from operating activities . . . . . . . . . . . . . . $470,000 Cash flows from investing activities: Increase in investments (long-term securities) . . . . . . . . . . . (10,000)
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