\"Problem 12-4A The income statement of Riverbed Corp is presented here Riverbed

Question

"Problem 12-4A The income statement of Riverbed Corp is presented here Riverbed Corp Income Statement For the Year Ended November 30, 2017 Sales revenue Cost of goods sold $7,529,600 Beginning inventory $1,894,900 4,430,700 6,325,600 1,628,800 Purchases Goods available for sale Ending inventory Total cost of goods 4,696,800 sold Gross profit Operating expenses 2,832,800 455,400 Selling expenses Administrative 697,1001,152,500 expenses Net income $1,680,300 Additional information 1. Accounts receivable decreased $381,200 during the year, and inventory decreased $266,100 2. Prepaid expenses increased $151,000 during the year 3. Accounts payable to suppliers of merchandise decreased $355,500 during the year. 4. Accrued expenses payable decreased $100,700 during the year. 5. Administrative expenses include depreciation expense of $109,300 Prepare the operating activities section of the statement of cash flows using the direct method Riverbed Corp Partial Statement of Cash Flows

Explanation / Answer

Solution: Partial statement of Cash Flows:

Particulars Amount ($) Amount ($) Cashflow from Operating Activities: Net income 1,680,300 Net cash provided by operating activities: Depreciation expense 109,300 Decrease in Inventory 266,100 Decrease in Accrued Interest Payable (100,700) Increase in Prepaid Expenses (151,000) Decrease in Accounts Receivable 381,200 Decrease in Accounts Payable (355,500) 149,400 Net cash provided by operating activities 1,829,700

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