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psved ugen.wlleyplus.com/edugen/student/mainfr.uni Facebook CRC Website Yahoo Mail eBay CALCULATOR FULL SCREEN PRINTER VERS?ON .BACK wm ^ Exercise 12-3 2 ment, Sosa Company reported net income of $190,000 for 2017. Sosa Company also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheets show an?ncrease n accounts recevabe?ss $17,000 increase in accounts payable, and a $4,000 increase in prepaid expenses. on for the year a Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sosa Company Partial Statement of Cash Flows Study Adjustments to reconcile net income to .2 Version 4.24.6

Explanation / Answer

Cash flow from operating activities :

Cash flow from operating activities Net income 190000 Adjustment to reconcile net income to cash flow from operating activities Depreciation expense 35000 Loss from disposal of plant assets 5000 Increase account payable 17000 Increase account receivable -15000 Increase prepaid expense -4000 38000 Net cash flow from operating activities 228000

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