(Solution) - The income statement of Asquith Company is presented on the -(2025 Original AI-Free Solution)

Paper Details

The income statement of Asquith Company is presented on the next page. Additional information:
1. Accounts receivable decreased $320,000 during the year, and inventory increased $120,000.
2. Prepaid expenses increased $175,000 during the year.
3. Accounts payable to merchandise suppliers increased $50,000 during the year.
4. Accrued expenses payable increased $155,000 during the year.

Instructions
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Asquith Company, using the indirectmethod.