The records of Rainbow Color Engraving reveal the following EEB (Click the icon

Question

The records of Rainbow Color Engraving reveal the following EEB (Click the icon to view the records) Compute cash flows from operating activities by the indirect method for year ended December 31, 2018 (Use parentheses or a minus box empty, do not select a label or enter a zero) sign for numbers to be subtracted and to show net cash used for operating activities If a box is Rainbow Color Engraving Statement of Cash Flows (Partial) Year Ended December 31, 2018 i Data Table Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: 11,000 21,000 $ 42,000 Depreciation expense Net income Sales revenue Loss on sale of land Acquisition of land Decrease in current liabilities Increase in current assets other than cash 51,000 5,000 5500 39,000 Print Done Net Cash Provided by (Used for) Operating Activities Choose from any list or enter any number in the input fields and then continue to the next question.

Explanation / Answer

Rainbow color Engraving Statement of cash flow ( partial ) Year ended December 31, 2018 $ $ Net income                42,000 Add; Depreciation expenses             11,000 Loss on sale of land               5,500 Total add back                16,500 Less; Decrease in current liabilities             21,000 Increase in current assets other than cash             15,000 Total deductions               (36,000) Net cash from operating activities                22,500

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