FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Staley inc .repoted the following data:\ table[[Net income,$238,600

Staley Inc. reported the following data:
Net income
Depreciation expense
Loss on disposal of equipment
Increase in accounts receivable
Increase in accounts payable
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out
payments, decreases in cash, or any negative adjustments.
$238,600
56,300
20,100
12,900
12,300
Staley Inc.
Statement of Cash Flows (partial)
Cash flows from operating activities:
Adjustments to reconcile net income to net cash flow from operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Q00 00
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Transcribed Image Text:Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out payments, decreases in cash, or any negative adjustments. $238,600 56,300 20,100 12,900 12,300 Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Q00 00
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