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Beautiful Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $47,000 and its...

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Accounting

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Beautiful Industries began 2018 with accounts receivable, inventory, and prepaid expenses totaling $47,000 and its total current liabilities totaling $31,000. At the end of the year, these same current assets totaled $45,000, while its total current liabilities totaled 522,000. Net income for the year was $12.000. Included in net income were a $3,000 gain on the sale of land and depreciation expense of $7,000. Show how Beautiful should report cash flows from operating activities for 2018. The company uses the indirect method. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by used for operating activities: Net cash provided by (used for) operating activities

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