Prepare the cash flows from operating activities section of the company’s 2018 statement of cash flows using the indirect method Transcribed Image Text: Assignment: Statement

Prepare the cash flows from operating activities section of the company’s 2018 statement of cash flows using the indirect method Transcribed Image Text: Assignment: Statement of Cash Flows
Scenario
Below is information from the Biddle Company income statement and current assets and current
liabilities from the balance sheet as of December 31, 2017 and 2018.
Bidde Comparry
Income Statem ent
For Year Ended December 31, 2018
142,200
Sales revenue
Expenses
Cost of goods sold
Depreciation expense
Salaries ex pense
Rent expense
Insurance ex pense
57,000
19,500
33,000
10,500
5,300
Interest expense
5,100
Uilities expense
Net income
4,300
7,500
Biddle Compary
SelectedBalance Sheet Accounts
At December 31
Accounts receivable
Inventory
Accounts payable
Salaries payable
Utilities payable
Prepaidinsurance
Prepaidrent
2018
2017
7,100
8,800
480
5,900
2,290
7,600
1,180
850
520
310
410
580
520
330

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