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10 minutes please Question 2 [20 points) The account balances for...

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Accounting

10 minutes please
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Question 2 [20 points) The account balances for the noncash current assets and current liabilities of Zcom Inc. are as follows: December 31 2015 2014 Accounts receivable 48,500 35,500 Merchandise Inventory 23,500 45,000 Prepaid expenses 54,000 47.000 Totals 129.000 127,500 Accounts payable 7,000 30,000 Salarles payable 61,000 45,500 Totals 83,000 75,500 During 2015 Zcom Inc. reported depreciation expense of $16,500. A gain on sale of equipment was reported in the amount of $9,000. All purchases and sales are on account. Net income for 2015 was $42,500. Prepare the operations section of the statement of cash flows using the indirect method. (select one) Statement of Cash Flows (select one) x 1 + X X X tt

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