2 200 300 QUESTION 5 (10 POINTS) The current sections of Alex Auto Company balan

Question

2 200 300 QUESTION 5 (10 POINTS) The current sections of Alex Auto Company balance sheet as of December 31, 2014 and 2013 are presented here. Alex Auto Company net income for 2014 was $ 9,500. Depreciation expense was 2014 2013 CURRENT ASSETS: $ 92,100 Accounts Receivable 64,500 87,000 TOTAL CURRENT ASSETS $243,600 17,000 69,200 80,000 166,200 Cash Inventory CURRENT LIABILITIES: Accounts Payable Salaries Payable 57,900 14,400 56,200 17,100 REQUIREMENTS ating activities section of Alex Auto Company's statement of cash flows for year ended December 31, 2014.

Explanation / Answer

Statement of cash flow Cash flow from operating activities Net income 9,500 Adjustments to reconcile net income to cash from operating activities Depreciation expense 1,500 decrease in accounts receivable 4,700 increase in inventory -7,000 increase in accounts payable 1700 Decrease in salaries payable -2700 Net cash flow from operating activities 7,700

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