Marigold Corp. reported net income of $192,120 for 2017. Marigold Corp. also rep

Question

Marigold Corp. reported net income of $192,120 for 2017. Marigold Corp. also reported depreciation expense of $35,680 and a loss of $5,290 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,560 for the year, a $16,150 increase in accounts payable, and a $4,040 increase in prepaid expenses. 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).)

Explanation / Answer

Net income 192120 Depreciation expense 35680 Loss on disposal of plant assets 5290 Increase in AR (15560) Increase in AP 16150 Increase in prepaid expenses (4040) Net cash flow from operating activities $229640

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