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  3. 1. the following accounts and corresponding balanc

1. The following accounts and corresponding balances were drawn from Geneses Company's Year 2 and...

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Accounting

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1. The following accounts and corresponding balances were drawn from Geneses Company's Year 2 and 1 year-end balance sheets: Account Title Year 2 Year 1 Accounts Receivable $65,000 $72,000 Prepaid Rent $1,400 $1,950 Utilities Payable $3,200 3,800 Other op. Expenses Payable $27,000 $31,500 The Year 2 income statement is shown next: Income Statement Sales $420,000 Rent Expense $52,000 Utilities Expense $45,300 Other Op Expenses $195,000 Net Income $127,700 a. Prepare the operating activities section ofthe statement of cash flows using the direct method. b. Prepare the operating activities section of the statement ofcash flows using the indirect method

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