MOSS COMPANY Selected Balance Sheet
Information December 31, 2019 and 2018
2019 2018
Current assets Cash $ 91,150 $ 33,300
Accounts receivable 31,500 45,000
Inventory 66,500 55,400
Current liabilities Accounts payable 43,400 32,200
Income taxes payable 2,700 3,500
MOSS COMPANY
Income Statement
For Year Ended December 31, 2019
Sales $ 549,000
Cost of goods sold 357,600
Gross profit 191,400
Operating expenses Depreciation expense $ 49,000
Other expenses 128,500 177,500
Income before taxes 13,900
Income taxes expense 8,100
Net income $ 5,800
Use the information above to calculate this company’s cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Cash flows from operating activities:
Adjustments to reconcile net income to operating cash flow
0
$0