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  3. presented below is the income statement of cowan,

Presented below is the income statement of Cowan, Inc: In addition, the following information related...

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Accounting

Presented below is the income statement of Cowan, Inc:
In addition, the following information related to net changes in working capital is presented:
\table[[Cash,Debit,Credit],[Accounts receivable,$12,000,],[Inventories,25,000,],[Salaries payable (operating expenses),8,000,],[Accounts payable,$19,400,],[Income taxes payable,3,000,14,000]]
The company also indicates that depreciation expense for the year was $16,700 and that the deferred tax liability account increased $2,600.
COWAN, INC.
Statement of Cash Flows (Partial)(Indirect Method)
Cash Flows from Operating Activities
Adjustments to reconcile net income to
Prepare a schedule computing the net cash flow from operating activities by using the direct method that would be shown on a statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g.-15,000 or in parenthesis eg.(15,000).)
COWAN, INC.
Statement of Cash Flows (Partial) Direct Method
$
$

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