Business, 23.05.2020 04:03 tsbrunson13

Marion Company reported net income of $170,000 for the current year. Depreciation recorded on buildings and equipment amounted to $50,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

End of Year Beginning of Year
Cash $20,000 $18,000
Accounts receivable 40,000 32,000
Inventories 50,000 58,000
Accounts payable 11,000 18,000
Salaries payable 10,000 6,000

Required:
Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

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Marion Company reported net income of $170,000 for the current year. Depreciation recorded on buildi...

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