4 A The income statement of Guesser Company is shown below Instruction: Prepare

Question

4 A The income statement of Guesser Company is shown below Instruction: Prepare the operating section of the cash flow statement using the indirect method. Enter sign t Enter Samount QUESSER COMPANY ost of goods sold Net cash flow from operating activities - Operating egene 2 Adsitional indormation 13 L Accounts eivable deoased S63000 duting the yea 14 Prepaid expenss increased $12.0s duning the year Inventory incased 38.000 during the year e Cash flow from operating activities 15 4 Accounts payable to increased $3,000 daring the year

Explanation / Answer

Cash flows from Operating activities: Net income for the period 71000 Adjustment required for reconciliation Decrease in Accounts receivable 63000 Increase in Inventory -38000 Increase in Prepaid expense -12000 Increase in Accounts payable 25000 Increase in Accrued expense 6000 Net cash provided from Operating activities 115000

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