Task : Determining cash flows from investing and
operating activities Indirect
Karr Inc. reported net income of $ for Changes occurred in several balance sheet accounts as follows:
Equipment
$ increase
Accumulated depreciation
increase
Note payable
increase
Additional Information:
a During X Karr sold equipment that cost $ and had accumulated depreciation of $ for a gain of $
b In December X Karr purchased equipment costing $ with $ cash and a note payable of $
c Depreciation expense for the year was $
Required:
In Karr's X statement of cash flows, what should be the net cash from operating activities?
In Karr's X statement of cash flows, what should be the net cash used in investing activities?
