Question

Data Table 51,000 $ 15,000 $ 22,000 $ 13,000 Purchase of equipment with cash 27,000 $ 17,000 Net income Payment of dividends Proceeds from issuance of stock. Purchase of treasury stock Sales revenue Payment of long-term note payable Decrease in current liabilities Cost of goods sold 8,000 Other operating expenses 72,000 Depreciation expense $117,000 S $ 6,000 other than cash Proceeds from sale of land 17,000 Increase in current assets $ 9,000

Answer 1

Operating Activities:-
Net Income		$29000
Adjustment to reconcile net income to cash basis:
Depreciation Expense	$22000
Increase in Current Assets other than cash	($9000)
Decrease in Current Liabilities	($6000)	$7000
Net Cash Provided by (Used for) operating activities		$36000

*Net Income = Sales Revenue – Cost of goods sold – Other Operating Exp – Depreciation Exp

             = $117000 - $51000 - $15000 - $22000 = $29000