Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Monty Corporation had the following 2025 income statement.
Sales revenue
$202,000
Cost of goods sold
132,000
Gross profit
70,000
Operating expenses (includes depreciation of $20,000)
51,000
Net income
$19,000
The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000.
Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method.
MONTY CORPORATION
Statement of Cash Flows-Direct Method (Partial)
>
>
$
+A
$
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Transcribed Image Text:Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) > > $ +A $
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