Cash flows from operations section of the statement
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Given the following information, prepare the cash flows from operations section of the statement of cash flows using the indirect method.
The Nugget Corporation
Income Statement
For the Year Ending December 31, Year 2
Sales $500,000
Expenses:
Cost of goods sold $150,000
Depreciation expense 15,000
Salary expense 35,000 200,000
Net income $300,000
Additional Information:
Accounts receivable $ 6,000 Decrease
Merchandise inventory 12,000 Increase
Accounts payable 900 Increase
Salaries payable 600 Decrease.
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