Riverbed Companys income statement for the year ended December 31, 2017, contained the following condensed...
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Accounting
Riverbed Companys income statement for the year ended December 31, 2017, contained the following condensed information.
Service revenue
$844,000
Operating expenses (excluding depreciation)
$619,000
Depreciation expense
61,000
Loss on sale of equipment
26,000
706,000
Income before income taxes
138,000
Income tax expense
41,000
Net income
$97,000
Riverbeds balance sheet contained the following comparative data at December 31.
2017
2016
Accounts receivable
$35,000
$54,000
Accounts payable
39,000
33,000
Income taxes payable
4,100
8,200
(Accounts payable pertains to operating expenses.) Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
RIVERBED COMPANY Statement of Cash Flows (Partial) Adjustments to reconcile net income to
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