Zumbrunn Company’s income statement contained the condensed
information below.
|
ZUMBRUNN COMPANY |
||||
| Service revenue |
$970,700 |
|||
| Operating expenses, excluding depreciation |
$624,000 |
|||
| Depreciation expense |
56,000 |
|||
| Loss on disposal of equipment |
25,800 |
705,800 |
||
| Income before income taxes |
264,900 |
|||
| Income tax expense |
39,000 |
|||
| Net income |
$225,900 |
|||
Zumbrunn’s balance sheet contained the comparative data at December
31, shown below.
|
2017 |
2016 |
|||
| Accounts receivable | $74,300 | $59,700 | ||
| Accounts payable | 40,100 | 27,900 | ||
| Income taxes payable | 12,300 | 6,500 |
Accounts payable pertain to operating expenses.
Prepare the operating activities section of the statement of cash
flows using the indirect method. (Show amounts that
decrease cash flow with either a - sign e.g. -15,000 or in
parenthesis e.g. (15,000).)
please include all answers and calculations. thank you
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Zumbrunn Company’s income statement contained the condensed
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Service revenue
$836,000
Operating expenses (excluding depreciation)
$626,000
Depreciation expense
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Loss on sale of equipment
26,000
712,000
Income before income taxes
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Net income
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at December 31.
2017
2016
Accounts receivable
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Accounts payable
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