Brief Exercise 23-4 Carla Corporatian had the following 2017 income statement. S

Question

Brief Exercise 23-4 Carla Corporatian had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $20,000) Net income $212,000 118,000 94,000 47,000 $47,000 The following accounts increased during 2017: Accounts Receivable $11,000, Inventory $10,000, Accounts Payable $12,000. Prepare the cash fiows from operating activities section of Carla's 2017 statement of cash flows using the direct method Carla Corporatiorn Statement of Cash Flows-Direct Method (Partlal)

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Cash received from customer (212000-11000) 201000 Cash paid to supplier (118000+10000-12000) -116000 Cash paid for operating expense (47000-20000) -27000 -143000 Net cash flow from operating activities 58000

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