Question

Riverbed Corp Income Statement For the Year Ended November 30, 2017 $7,633,800 $1,898,800 4,453,200 6,352,000 1,575,300 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Administrative expenses Net income 4,776,700 2,857,100 452,400 704,900 1,157,300 $1,699,800 Additional information 1 Accounts receivable decreased $377,800 during the year, and inventory decreased $323,500 2. Prepaid expenses increased $148, 100 during the year 3. Accounts payable to suppliers of merchandise decreased $343,400 during the year 4. Accrued expenses payable decreased 599,200 dunng the year. 5. Administrative expenses indude depreciation expense of $111,600 Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017 for Riverbed Corp, using the

Answer 1

Riverbed Corp Partial Statements of Cash Flows Particulars Amount Amount Cash Flows from Operating activities: Net Income $1,699,800 Adjustments to reconcile net income to net cash flows from operating activities: Add: Depreciation expense $ 111,600 Decrease in Accounts Receivable 377,800 $ Decrease in Inventory 323,500 $(148,100) $(343,400) (99,200) Increase in Prepaid Expenses Decrease in Accounts Payable Decrease in Accrued Expenses $ 222,200 Net Cash flow provided by Operating activities 1,922,000