TOR FULL SCR URCES Problem 12-5A Bramble Corp.\'s income statement contained the

Question

TOR FULL SCR URCES Problem 12-5A Bramble Corp.'s income statement contained the condensed information below Bramble Corp. Income Statement For the Year Ended December 31, 2017 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income $3,171,900 $2,007,780 179,850 52,320 2,239,950 931,950 183,120 $748,830 Bramble Corp.'s balance sheet contained the comparative data at December 31. 2017 2016 $228,900 134,070 42,510 $196,200 104,640 22,890 Accounts receivable Accounts payable Income taxes payable Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with -15,000 or in parenthesis e.g. (15,000).) licy I 2000-2017 John Wiley & S All Rights Reserved. A Division of J & Sons, Inc.

Explanation / Answer

Cash flow from operating activities under indirect method :

Net income 748830 Adjustment to reconcile net income Depreciation 179850 Loss on sale of plant assets 52320 Increase account receivable (32700) Increase account payable 29430 Increase income tax payable 19620 Net cash flow from operating activities 997350

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