Excroise 12-3 E Your answer is partially correct. Try again Tamansk, tnc. report
ID: 2555390 • Letter: E
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Excroise 12-3 E Your answer is partially correct. Try again Tamansk, tnc. reported net income of $173 9S for 2017. T mansk, Inc. also reported deprec ation expense of $31,940?nd a loss of $4,870 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,030 for the year, a $16,080 increase in accounts payable, and a $3,650 increase in prepaid expenses Increese in Prepere the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash fiow with either a-sign e.g. -15,000 or in parenthesis e-g. (15,000).) Tamarisk, Inc Partial Statement of Cash Flows or the Year Ended Dece $173950 Adjustments to reconcile net income to 4870 Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivab 31940 E 14030 ncrease in Accounts Payabl 3650 Increase in Prepaid Expenses Net Cash Provided by Operating Activities brExplanation / Answer
cash flow from operating activities NET INCOME $ 173,950 ADJUSTMENT: AAD: DEPRECIATION EXP $ 31,940 ADD: LOSS ON DISPOSAL OF ASSETS $ 4,870 ADD: INCREASE IN ACCOUNT PAYBLE $ 16,080 $ 52,890 $ 226,840 LESS: INCREASE IN ACCOUNT REC. $ 14,030 LESS: INCREASE IN PREPAID EXP. $ 3,650 $ 17,680 CASH FLOW FROM OPERATING ACTIVITES $ 209,160
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