The following information pertains to Guys Gear Company: Sales ...
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Accounting
The following information pertains to Guys Gear Company:
| Sales | $ 80,000 | |
|---|---|---|
| Expenses: | ||
| Cost of Goods Sold | $ 50,000 | |
| Depreciation Expense | 6,000 | |
| Salaries and Wages Expense | 12,000 | 68,000 |
| Net Income | $ 12,000 | |
| Accounts Receivable Decrease | $ 4,000 | |
| Inventory Increase | 8,000 | |
| Salaries and Wages Payable Increase | 750 |
Required:
Present the operating activities section of the statement of cash flows for Guys Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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