Please do not give solution in image format thanku The accounting records of Westlake Industries provided the data below.Net income$200,000Depreciation expenseDecrease in inventoryIncrease in accounts receivableIncrease in interest payableAmortization of bond discountIncrease in accounts payableCash dividends paid15,00012,0001,4001,6003,0007,00020,000Required:Prepare a reconciliation of net income to net cash flows from operating activities.

The cash flow statement is a financial statement which shows the inflow and outflow of cash arising…

Answered: Prepare a reconciliation of net income…

Business

Accounting

Prepare a reconciliation of net income to net cash flows from operating activities.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 55PSB: Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance...

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Question

Please do not give solution in image format thanku

The accounting records of Westlake Industries provided the data below.
Net income
$200,000
Depreciation expense
Decrease in inventory
Increase in accounts receivable
Increase in interest payable
Amortization of bond discount
Increase in accounts payable
Cash dividends paid
15,000
12,000
1,400
1,600
3,000
7,000
20,000
Required:
Prepare a reconciliation of net income to net cash flows from operating activities.

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