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Cain Inc. reports net income of $15,600. Its comparative balance sheet shows the following changes: accounts receivable increased $6,600; inventory decreased $8,600; prepaid insurance decreased $1,600; accounts payable increased $3,600 and taxes payable decreased $2,600. Compute cash flows from operations using the indirect method.

Respuesta :

Answer:

$20,200

Explanation:

                                                          Amount in $

Net income                                            15,600

Increase in receivables                         (6,600)

Decrease in inventory                            8,600

Decrease in prepaid insurance              1,600

Increase in account payable                  3,600

Decrease in tax payable                        (2,600)

Net cash flows from operations         20,200  

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