Martin, Inc.'s, income statement is shown below. Based on this income statement and the other information provided, calculate the net cash provided by operation activities using the indirect method. Martin, Inc. Income Statement For Year Ended December 31, 2009 Sales.. Cost of goods sold. Gross profit... Operating expenses Wages and salaries expense. Rent expense...... Depreciation expense... Other operating expenses..... Income from operations... Gain on sale of equipment... Income before income taxes... Income taxes expense.... Net income... Additional information: Increase in accounts receivable..... Increase in accounts payable..... Increase in income taxes payable.. Decrease in prepaid expenses..... Decrease in merchandise inventory..... Decrease in long-term notes payable........ $ 44,000 16,000 30,000 18,000 $ 4,000 16,000 300 10,000 14,000 20,000 $248,000 116.000 $132,000 108,000 $ 24,000 26,000 $ 50,000 17,500 $.32.500

Martin, Inc.'s, income statement is shown below. Based on this income statement and the other information provided, calculate the net cash provided by operation activities using the indirect method. Martin, Inc. Income Statement For Year Ended December 31, 2009 Sales.. Cost of goods sold. Gross profit... Operating expenses Wages and salaries expense. Rent expense...... Depreciation expense... Other operating expenses..... Income from operations... Gain on sale of equipment... Income before income taxes... Income taxes expense.... Net income... Additional information: Increase in accounts receivable..... Increase in accounts payable..... Increase in income taxes payable.. Decrease in prepaid expenses..... Decrease in merchandise inventory..... Decrease in long-term notes payable........ $ 44,000 16,000 30,000 18,000 $ 4,000 16,000 300 10,000 14,000 20,000 $248,000 116.000 $132,000 108,000 $ 24,000 26,000 $ 50,000 17,500 $.32.500

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 20E

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