(Solution) - Refer to the information in PB12 2 Income Statement Sales Revenue 78 000 -(2025 Original AI-Free Solution)

Paper Details

Refer to the information in PB12-2.
Income Statement
Sales Revenue........................$78,000
Expenses:
Cost of Goods Sold...................36,000
Depreciation Expense.................16,000
Salaries and Wages Expense.........10,000
Rent Expense............................2,500
Insurance Expense......................1,300
Interest Expense........................1,200
Utilities Expense........................1,000
Net Income...........................$10,000
Selected Balance Sheet Accounts
Ending Beginning
Balances Balances
Inventory..........................$ 430........................$ 490
Accounts Receivable............1,800.......................1,500
Accounts Payable................1,200.......................1,300
Salaries and Wages Payable......450.........................250
Utilities Payable....................100............................0
Prepaid Rent.........................80.........................100
Prepaid Insurance...................70...........................90
Required:
Prepare the cash flows from operating activities section of the statement of cash flows using the direct method.