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Cash Flows from Operating Activities of Bloom's Statement

Bloom Corporation had the following 2010 income statement.

Sales $200,000
Cost of goods sold 120,000

Gross profit 80,000
Operating expense (including depreciation of $21,000) 50,000

Net income $30,000

The following accounts increased during 2011: accounts receivable $12,000; inventory $11,000; accounts payable $13,000. Complete the cash flows from operating activities section of Bloom's 2011 statement of cash flows using the direct method. (List amounts from largest to smallest eg 10, 5, 3, 2.)

Cash flows from operating activities
$

$
$ $

Net cash provided/used by operating activities $.

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Cash Flows from Operating activities-Direct method

$
Cash ...

Solution Summary

The solution completes the cash flows from operating activities of Bloom's statement of cash flows using the direct method.

$2.19