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Business, 06.05.2020 05:42 nasrah

The Azuza Company owns no plant assets and had the following income statement for the year:

Sales revenue $930,000
Cost of goods sold $650,000
Wages expense 210,000
Rent expense 42,000
Utilities expense 12,000 914,000
Net income $16,000

Additional information about the company includes:

End of Year Beginning of Year
Accounts receivable $67,000 $59,000
Inventory 62,000 86,000
Prepaid rent 9,000 7,000
Accounts payable 22,000 30,000
Wages payable 9,000 7,000

Required:
Use the preceding information to calculate the cash flow from operating activities using the indirect method. Remember to use negative signs with answers when appropriate.

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The Azuza Company owns no plant assets and had the following income statement for the year:
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