The following information is available for Bernard Corporation for 2019: Net income $185,200 Decrease in accounts receivable 8,300 Increase in inventory 19,900 Decrease in prepaid rent 4,410 Increase in salaries payable 7,100 Decrease in income taxes payable 3,870 Increase in notes payable (due 2023) 50,000 Depreciation expense 52,700 Loss on disposal of equipment 6,450   Required: Compute the net cash flows from operating activities using the indirect method.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 6MC: Selected information from Brook Corporations accounting records and financial statements for 2019...
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The following information is available for Bernard Corporation for 2019:

Net income $185,200
Decrease in accounts receivable 8,300
Increase in inventory 19,900
Decrease in prepaid rent 4,410
Increase in salaries payable 7,100
Decrease in income taxes payable 3,870
Increase in notes payable (due 2023) 50,000
Depreciation expense 52,700
Loss on disposal of equipment 6,450

 

Required:

Compute the net cash flows from operating activities using the indirect method.

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