Business, 21.03.2020 05:56, ivanf30

Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of $140,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
Increase in accounts receivable $ 152,000
Decrease in inventories 108,000
Decrease in prepaid expenses 62,000
Decrease in salaries payable 30,000
Increase in income taxes payable 44,000
Required:
Prepare the cash flows from operating activities for 2018. (Amounts to be deducted should be indicated with a minus sign.)

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Chew Corporation prepares its statement of cash flows using the indirect method of reporting operati...