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16 - Homework 0 Saved MOSS COMPANY Selected Balance Sheet Information...

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Accounting

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16 - Homework 0 Saved MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 2016 2017 2016 Current assets Cash $94,650 $36,800 Accounts receivable 35,000 52,000 Inventory 70,000 56,100 Current liabilities Accounts payable 50,400 35,700 Income taxes payable 3,050 4,200 MOSS COMPANY Income Statement For Year Ended December 31, 2017 Sales $584,000 Cost of goods sold 371, 600 Gross profit 212,400 Operating expenses Depreciation expense $ 56,000 Other expenses 132,000 188,000 Income before taxes 24,400 Income taxes expense 13,300 Net income $ 11,100 Use the information above to calculate this company's cash flows from operating activities using deducted should be indicated by a minus sign.) Cash flows from operating activities: Adjustments to reconcile net income to operating cash flow

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