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Dhuil Problem 3: Starfire Company uses the indirect method...

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Accounting

Dhuil
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Problem 3: Starfire Company uses the indirect method to prepare the statement of cash income statement: Starfire Company Income Statement Year Ended December 31, 2015 Sales Revenue Interest Revenue Loss on Sale of Plant Assets Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Net Income/(loss) $275,000 2,600 2,000 135,000 66,500- 32,000 35,900 2,40 6,500 $1,300 Additional information provided by the company includes the following: Current assets other than cash decreased by $25,000 Current liabilities increased by $3,000 Prepare the operating activities section of the statement of cash flows. ri income

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