Kennedy, Inc. reported the following data:
Net income | $133,858 |
Depreciation expense | 12,905 |
Loss on disposal of equipment | 11,445 |
Gain on sale of building | 20,704 |
Increase in accounts receivable | 7,893 |
Decrease in accounts payable | 2,850 |
Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.
Kennedy, Inc. | ||
Statement of Cash Flow | ||
Cash flows from operating activities: | ||
$ | ||
Adjustments to reconcile net income to net cash flow from operating activities: | ||
Changes in current operating assets and liabilities: | ||
Net cash flow from operating activities | $ |
Kennedy, Inc. | |
Statement of Cash Flows - Indirect method (Partial) | |
$ | |
Cash flows from operating activities | |
Net income | 133,858.00 |
Adjustments to reconcile net income to net Cash flows from operating activities : | |
Depreciation expense | 12,905.00 |
Loss on disposal equipment | 11,445.00 |
Gain on sale of building | (20,704.00) |
Changes in current operating assets and liabilities: | |
Increase in accounts receivable | (7,893.00) |
Decrease in accounts payable | (2,850.00) |
Net Cash provided by Operating Activities | 126,761.00 |
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