help 4. (11) Bloom Corporation had the following 2019 income statement....

50.1K

Verified Solution

Question

Accounting

help
image
4. (11) Bloom Corporation had the following 2019 income statement. Sales $200,000 Cost of goods sold 120,000 Gross profit 80,000 Operating expenses (including depreciation of $25,000) 50,000 Net income $ 30,000 The following accounts increased during 2019: Accounts Receivable by $10,000; Inventory by $8,000; Accounts Payable by $12,000. Prepare the Cash Flow from Operating Activities section of Bloom's 2019 Statement of Cash Flows in good form using the indirect method

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students