Partial Balance Sheets as of December 31 2021 2020 Assets Cash Accounts receivable Inventory Liabilities Accounts payable $35,000 65,500 35,000 $15,500 80,000 30,500 $49,500 $57,000 Additional information for 2021: Net income was $83,000. Depreciation expense was $26,500. Required: Prepare the operating activities section of the statement of cash flows for 2021 be deducted should be indicated with a minus sign.) Cash flows from operating activities: Adjustment for noncash effects: Changes in operating assets and liabilities:

Partial Balance Sheets as of December 31 2021 2020 Assets Cash Accounts receivable Inventory Liabilities Accounts payable $35,000 65,500 35,000 $15,500 80,000 30,500 $49,500 $57,000 Additional information for 2021: Net income was $83,000. Depreciation expense was $26,500. Required: Prepare the operating activities section of the statement of cash flows for 2021 be deducted should be indicated with a minus sign.) Cash flows from operating activities: Adjustment for noncash effects: Changes in operating assets and liabilities:

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.2AP

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