Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Shanequa Company Income Statement Year Ended December 31, 2025 Sales Revenue Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (Loss) $250,000 2,600 119,000 41,000 12,000 21,000 1,700 5,400 $258,600 200,100 $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,300. Compute the net cash provided by (used for) operating activities.

Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Shanequa Company Income Statement Year Ended December 31, 2025 Sales Revenue Interest Revenue Gain on Sale of Plant Assets 6,000 Total Revenues and Gains Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (Loss) $250,000 2,600 119,000 41,000 12,000 21,000 1,700 5,400 $258,600 200,100 $58,500 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000. 2. Current liabilities decreased by $1,300. Compute the net cash provided by (used for) operating activities.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare the cash flows from operating activities section of the company’s 2018 statement of cash flows using the indirect method
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