Exercise Nowak Carparation had the fol owing 2017 incoma statament Sales raveni.

Question

Exercise Nowak Carparation had the fol owing 2017 incoma statament Sales raveni.e Cost of gucds sokl Gross profi Operating expenes (includes cepreciation of $20,00u) $195,000 115,000 80,000 53,00? $27.0U following accounts Inc eased during 2017: Accounts Receivable S13,000 with either a - sign e.g.-15,000 or in parenthesis e.g.(15,000)) Inventory 12,000 Accounts Payable $14 0an. Prepare the cash na s fon o ratio activities saction of Now ka 2017 stat mert of cash nows s r the in din t m thod (Show amounts that decrease cash fow Statement of Cesh lows-Indirect Method (Partial) Adjstmes to racandile nat incoma to

Explanation / Answer

SOLUTION

NOVAK CORPORATION

STATEMENT OF CASH FLOWS

For the year ended December 31, 2017

Amount ($) Amount ($) Cash flows from Operating Activities Net Income 27,000 Adjustments to reconcile net income to net cash provided by operating activities- Depreciation Expenses 20,000 Increase in inventory (12,000) Increase in accounts payable 14,000 Increase in accounts receivable (13,000) 9,000 Net Cash provided by operating activities 36,000

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