Question

The income statement and selected balance sheet information for Calendars Incorporated for the year ended December...

The income statement and selected balance sheet information for Calendars Incorporated for the year ended December 31 is presented below.
Income Statement
  Sales Revenue $ 72,000
  Expenses:
       Cost of Goods Sold 33,000
       Depreciation Expense 15,400
       Salaries and Wages Expense 9,400
       Rent Expense 1,900
       Insurance Expense 1,000
       Interest Expense 900
       Utilities Expense 700
  
  Net Income $ 9,700
  
Selected Balance Sheet Accounts
Ending Balances Beginning Balances
  Inventory $ 435 $ 500
  Accounts Receivable 1,500 1,260
  Accounts Payable 1,360 1,620
  Salaries and Wages Payable 610 330
  Utilities Payable 110 0
  Prepaid Rent 90 120
  Prepaid Insurance 65 80
Required:

Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated by a minus sign.)

CALENDARS INCORPORATED

Statement of Cash Flows (Partial)

For the Year Ended December 31

Cash Flows from Operating Activities   
Business   Accounting   
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